Protect your rights, baby boomers and seniors, have an Estate Plan

I saw the movie "I Care A Lot" last weekend.  The title is a spoof on the concept of caring for elders.  The premise of the movie is that a court appointed guardian was given the role of moving a wealthy aging woman into a senior care facility.  It was required that the woman pick up and move into this facility leaving everything in her life behind.  She had no choice and was carried out from her home and moved to the facility.

The backstory is that this movie was actually based on similar true incidents that have occurred in the State of Nevada.  This is an example of major exploitation of senior adults.  There actually are enterprises in that state to allow for-profit guardians to target unwilling rich seniors. Then under court mandates they can require the senior to move to a care facility.  Their assets are sold off and the senior has zero say in the matter.  The court appointed guardians are there only to ring in the money.  Read the feature article in The New Yorker here.  

Each of us should have an estate and retirement plan to protect our rights and acquired assets as we age.  We hear stories of seniors being taken advantage of all the time.  As the population ages, more and more, persons are living longer and with greater independence.  There is greater risk of exploitation as people may become vulnerable to health care issues.  If one does not have a family support system in particular it is important to document health care proxy and estate plans and inform those you feel comfortable with while you are able.  I wrote about this subject and performing due diligence before hiring anyone to care for a loved one, a few years ago in June 2019 but the subject at hand is the same.  Click here for the original post.

If you truly do "care a lot" please take the measures necessary to protect your family and your loved ones.  A little homework will go a long way for a safe and worry free future.

Wendy is an SRES Realtor with Coldwell Banker and an upcoming author of her first book.  " COFFEE CONNECTION: A LONG-TERM RELATIONSHIP WITH MY DAILY BREW".  She enjoys coffee, walking her dog, theater/arts, reading, writing, travel and meeting new people.  She always welcomes the opportunity to have a virtual coffee now that we are amidst the “new normal”. 

Check out her website at www.wendybcb.com or her FB page @wendybcb as she posts up to date content to meet the ever changing marketplace.