Message to Baby Boomers: Hurry up and do your estate and long term care planning!

It’s official.  Baby Boomers are the FATTEST generation ever. A third of us are obese, and another third are overweight.  Small wonder. We live a sedentary lifestyle. We eat at fast-food and chain restaurants.  And we deal with a lot of stress (which can – literally – make you fat!).

Or parents fought The Battle of the Bulge in World War II. And they won it. We’re fighting the Battle of the Bulge, too…every time we sit down at the table. But, unlike our parents, we’re losing it. And, as a result, we may be the first generation that’s actually shortening our own lives. Many Boomers, in fact, are going to pass on before they really need to.

All of this presents a great opportunity for elder-law attorneys…just think of the income potential! This is a phenomenal opportunity for estate planners like me and Patty to get the Baby Boomers in before they die. And since so many of them are going to die before their time…there’s no time to lose.

Of course, we’re being a bit facetious here. But, truth be told, we’re faced with some awful consequences if we don’t wise up. We all have choices. If we don’t make the right choices now, however, there are other choices that we may have to make later. For example…

  • Do you really want that no-good daughter-in-law inheriting your money?
  • You don’t really plan on relying on your children to take care of you if you get sick, do you?
  •  You don’t want your third husband’s children to inherit your money…do you?

Then pay attention. It’s not too late to make choices that will give you increased longevity…and increased peace of mind (less stress!)…

  • You can make a conscious decision to get healthy, and to live and a long and happy life.
  • You can make a conscious decision to take care of your estate planning now – after all, we’re all going to die someday. The only unknown is when.
  • Or…you can do both!

Personally, I would do (and have done) both.  I have all my estate planning documents in place, and I bought long-term-care insurance at age 49. And I take reasonably good care of myself. (Anybody in Coral Springs looking for a walking partner in the evening?)

If you don’t want The State of Florida to make the decisions about your estate…you can do something about it. Think of it, perhaps, as performing community service for yourself, instead of for the legal community, which will make tons of money (your money) if they’re involved in Guardianship or Probates.

Seems like an easy choice, doesn’t it?

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Posted in Alice Reiter Feld Florida Elder Law Monday Memos

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