ESTATE PLANNING FOR AN AGING POPULATION

The following statistics illustrate the gravity of the need for estate and long term planning for our aging population.

  1. Graying of America
  2. 40 million Americans over age 65
    • 13% of the population
    • 25%of these people will live past age 90
    • 10% will live past age 95
  3. By 2030, expected to increase to 88.5 million
    • 20%of the population
  4. Alzheimer’s Disease
    • Over 5 million Americans have Alzheimer’s disease
      • By 2050, this number will triple
      • 200,000 people under age 65
    • Most expensive disease in the nation
      • $214 billion in 2014
      • $1.2 trillion in 2050
      • 20% of all Medicare dollars spent is on people with Alzheimer’s disease or dementia

Reference: Bernard A. Krooks, Esquire, Philadelphia Estate Planning Council, September 18, 2015

Filed Under: Estate Planning; Elder Law

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