the individual or individuals they trust to make these decisions on their behalf if the need should (NAPSA)—Good news: The number of older adults in the U.S. continues to increase. It’s expected there'll be 80 million Americans over the age of 65 by the year 2040. Legal Matters As a result, more adult children of aging parents will need to initiate a discussion about the need to address certain legal matters so that their family members’ wishes will continue to be honored even if they are no longer able to manage these affairs at some future time. Documents such as wills, living wills and powers of attorney for health care and financial matters need to be executed while someone has the capacity to makedecisions. Sometimes older individuals are reluctant to speak about these topics. They may prefer to speak with a neutral third party such as an attorney, a financial adviser, a social worker or perhaps a good friend to address these issues before a crisis occurs. Here are sometips: Helpful Hints Learn what is important to your loved ones in making financial and health care decisions. Help them to implement a plan that will ensure their wishesare carried out. Discuss the options of planning ahead for finances and health care so that your loved ones can have their wishes honored. Encourage the use of an attorney or financial planner if your family members are reluctant to discuss personal matters with you. When formal documents have been created, make sure their loca- tion is readily available and encourage your loved ones to review them at least every two years. Estate planning and terminology can vary from place to place. Enlisting the help of an elder law attorney may be beneficial. The increase in the older adult population in the U.S. has given rise to the specialty of elder law attorneys who focus on the many legal issues specific to older adults. In addition to arise. The best choice is usually a spouse, adult child or other family member. However, because of age, incapacity, distance or estrange- ment, family may not always be the best choice. A trusted friend or perhaps an attorney may sometimes the many legal complexities, elder law attorneys have experience with older adults and an appreciation for many of the physical and mental challenges associated with the aging process. These lawyers can assist older persons and their families with such issues as Social Security, Medicaid, Medicare, estate planning andpreservation of assets. Where There’s a Will... One important legal consideration for your family membersis the creation of a will. When creating a will, they need to consider: Is there a need for trusts for a spouse or other dependents? How will the assets be divided? Are charitable gifts a consideration? Whowill be named executorof the estate? What might the tax considerations be? * Once a will has been created, make sure the original is kept in a safe place and the executor knows whereit is. Managing Financial Affairs At some point, you or someone identified by your loved ones may have to make financial or health care decisions for them. They should consider establish- ing powers of attorney, identifying be a valid option. It is also wise to consider an alternate agent in the event that one’s first choice is unable to serve. The creation of a living will requires considerable thought. Areas to consider might be: What are some of the usual procedures and care options for those who are seriously ill, such as antibiotics, intravenous hydration, pain medication, artificial nutrition (feeding tube), CPR or diagnostic testing (labs, X-rays)? Are there any treatments or procedures that they would specifically refuse? Whatare their beliefs about the use of external life-support machines and medications? In creating a living will, your family members should try to be specific, thinking of it as a blueprint for someoneelse to follow. It can serve as a guide for the individual(s) they identifiy as powerof attorney for health care matters. Learning More You can find additional information about important legal considerations for older Americans in a free booklet from the MetLife Mature Market Institute called “Legal Matters.” It is part of the “Since You Care” series of guides created in cooperation with the National Alliance for Caregiving. It includes information, resources and checklists. You can get a copy by calling (203) 221-6580, e-mailing mature marketinstitute@metlife.com, visit- ing www.maturemarketinstitute. com or writing MetLife Mature Market Institute, 57 Greens Farms Road, Westport, CT 06880.
