The U.S. Census Department estimates that approximately 20 percent of the U.S. population is living with a physical or mental disability. For a parent of a child who is born with a serious medical condition or who is diagnosed with major depressive disorder, there are often many questions, worries and concerns about a child’s future and how he or she will fair once a parent passes.
Why the changing definition of ‘family’ matters for estate plans
Financial giant UBS recently released the results from a study that shows just how much the definition of “family” has changed over the years, and why that matters for the estate planning world.
Estate planning is an ever evolving and changing process
There are many unknowns in life. These uncertainties become especially apparent when one contemplates his or her future long-term care and health needs. While there's no way to predict the future or truly know how much money you'll need or be able to leave to your loved ones, estate planning helps an individual gain more control over both his or her future as well as the financial security of surviving heirs.
Planning for future needs in the wake of a dementia or Alzheimer's diagnosis
While it's the sixth leading cause of death in the U.S. and ultimately affects one-third of elderly adults, many people fail to truly understand what Alzheimer's disease is or how it affects those who are both directly and indirectly impacted. Currently, more than 5 million Americans are believed to be living with the disease and, as individuals who make up the baby boomer population continue to age, that number is expected to "nearly triple...to a projected 13.8 million."
