Feb 16, 2014
By Rick Law
Women are at a greater risk of not having enough money after their husbands have died. A woman often cannot maintain the standard of living that she enjoyed with her spouse due to the loss of one Social Security check; the loss of some or all of her spouse’s pension income; and the loss of savings that were spent on the husband’s healthcare and final expenses.
Women need to think about their future life after their spouses have died. They need to take action and talk with trustworthy advisors who can analyze what steps to take to protect themselves after their husbands are gone.
We baby boomers saw our grandparents die of heart attacks, strokes, industrial accidents, agricultural accidents, and other “quick death” causes. Now we’re grandparents ourselves! Medical advances have rescued us from many of the diseases and scourges of past ages. But now it is our time to go from healthy and vigorous to being a senior with memory and/or mobility issues.
In a recent AARP Magazine article, it was reported that 70 percent of us will need long-term care! Ignore that statistic at your peril and the peril of your spouse.
When we started doing elder law and retirement and estate protection in 2000, our clients were our parents’ generation. Now, our clients include Boomers with Parkinson’s Disease, early-onset Alzheimer’s and other serious illnesses. To avoid the pothole of being unprepared for a long-term illness, please take action now!
If you’re ready to start getting your estate in order and secure your assets for the “worst-case” scenario, please give our office a call at 630-585-5200 or 800-310-3100. Your first consultation is absolutely free. We’ll let you know what steps you need to take, right now, to protect yourself and your family. Call now.
Rick L. Law, Attorney, Estate Planner for Retirees.
Rick was named the #1 Illinois elder law estate planning attorney by Leading Lawyer Magazine. He has been quoted in the Wall Street Journal, AARP Magazine, TheStreet.com, and numerous newspapers and articles. Rick is the lead attorney for Law Elder Law, LLP, focusing in Estate Planning, Guardianship, and Nursing Home Solutions. His goal is to give retirees an informed edge when it comes to dealing with an uncertain future. Get flexible retirement strategies that work during good times and bad, plus information on how you can save your home and assets from being used to pay for long term care. Conveniently located off I-88 across from the Aurora Premium Outlet Mall.
“We would be lost without Law Elder Law! We walked in their doors over a year ago feeling lost and confused. With a father/father-in-law suffering from Alzheimer’s, we were overwhelmed by the Medicaid process, selling his home, protecting the assets he worked for his entire life, and finding him a memory-care facility that we could trust as his new home.
Law Elder Law helped with all of it! From the minute we walked out of our first meeting, we knew we (and he) were in good hands. We could not have possibly navigated all that had to be done without their expertise.”
A.M., Client of Law Hesselbaum and Law Elder Law