Massachusetts Estate Planning & Asset Protection Blog

4 Essential Estate Planning Tips Every Baby Boomer Should Know

Posted by Dennis Sullivan & Associates on Tue, Oct 01, 2019

P42.Sullivan.OctBlog1One of the best ways Baby Boomers can prepare for older age, and help their loved ones after they are gone, is to make sure their estate plans are in order. An estate plan protects and transfers wealth while adhering to tax strategies and other important considerations, the former being of special importance to those of us residing in Massachusetts. A well-designed estate plan can also ensure health care wishes and personal desires are followed. 

Not having a plan, or an up-to-date plan, however, can leave decisions in the hands of others. This could devalue your estate, create unnecessary confusion, result in your loved ones turning to the court for help, and even cause infighting within one’s family. It is one of the reasons why we focus during the month of October, as well as throughout the year, on Estate Planning Awareness Week which promotes the importance of a sound plan through the National Association of Estate Planners & Councils.

Whether you are revisiting an existing estate plan or crafting an estate plan for the first time, let us share four essential estate planning tips with you right here in this article. 


  1. Wills and Trusts. These are the centerpieces of any solid estate plan, regardless of the size of the estate. A last will and testament is put into action at the executor’s death, while a trust agreement can be managed during one’s lifetime. A trust can also limit estate taxes and potential legal challenges. In that regard, the written language of these documents is extremely important and should be discussed with your estate planning attorney.


  1. Beneficiary Designations. Retirement plans, annuities, life insurance policies, and other investments, allow for the principal investor to name who he or she wants to inherit his or her investments when at death. This can be a spouse, multiple members of an immediate family, other individuals, or charities and institutions.


  1. Durable Power of Attorney. A power of attorney allows a designated person to make financial, legal, and other personal decisions on behalf of another person. A durability provision ensures that the document can still be used even when the creator is incapacitated. 


  1. Health Care Directives. Health care directives ensure that there is a selected person to make health care decisions on your behalf. Be sure to consider choosing someone with matching end-of-life views as this person may be called upon to act as you would in this situation. 


With so much at stake, do not wait to contact an experienced estate planning attorney for more information on this topic. Don’t wait to ask us your questions or attend one of our upcoming Trust, Estate & Asset Protection Planning workshops to learn about our Unique Process  to help you and your family to enhance the security of your lifestyle, life savings, and legacy.

We know this article may raise more questions than it answers for you. If you have specific questions, do not wait to contact us. This only starts our discussion on how to prepare for retirement as a Baby Boomer. We encourage to take the time to review each of our critical guides with the information you need on this as well. Let us answer your questions about your unique retirement needs. 

If you would like more information on Elder Law, Medicare, the Affordable Care Act, or the impact of new health care laws on your health care coverage, request your free preview of our guide, the Senior & Boomers’ Guide to Health Care Reform & Avoiding Nursing Home Poverty.  

We encourage you to attend one of our free educational workshops. The next evening event will be next Thursday October 10th 6:30 PM at the Needham  Council on Aging Center at the Heights 300 Hillside Ave. Needham, MA,  Please call 800-964-4295 and register to discover  more about what you can do to Protect your Home, Spouse, Family and Life Savings. By attending our workshop, you will also be entitle to more than $1,500 in valuable benefits, including your choice of books, DVDs and more! Call 800-964-4295 (24/7)

Tags: Estate Planning, Baby Boomers, Estate Planning Recommendations, boomers

Understanding Long-Term Care Costs and Alzheimer's I Massachusetts Alzheimer's Attorney

Posted by Massachusetts Alzheimer's Attorney Dennis B. Sullivan, Esq., CPA, LLM on Fri, Mar 18, 2016

Alzheimer's and Long Term Care


Alzheimer's is growing at an alarming rate. Alzheimer's increased by 46.1% as a cause of death between 2000 and 2006, while causes of death from prostate cancer, breast cancer, heart disease and HIV all declined during that same time period.

The 2015 Alzheimer's Association annual report titled, “Alzheimer's Disease Facts and Figures” explores different types of dementia, causes and risk factors, and the cost involved in providing health care, among other areas. This report contains some eye-opening statistics:

  • An estimated 5.3 million Americans of all ages have Alzheimer's disease. This figure includes 5.1 million people aged 65 and older and 200,000 individuals under age 65 who have early-onset Alzheimer's.
  • One in nine people age 65 and older (11 percent) has Alzheimer’s disease.
  • About one-third of people age 85 and older have Alzheimer’s disease.
  • Eighty-one percent of people who have Alzheimer’s disease are age 75 or older. The number of people aged 65 and older with Alzheimer's disease is estimated to reach 7.7 million in 2030 - more than a 50% increase from the 5.1 million aged 65 and older currently affected.
  • Every 67 seconds, someone in the United States develops Alzheimer’s. Thus, approximately 473,000 people age 65 or older developed Alzheimer’s disease in the United States in 2015.
  • By 2050, the number of individuals aged 65 and older with Alzheimer's is projected to number between 11 million and 16 million - unless medical breakthroughs identify ways to prevent or more effectively treat the disease.

Currently long-term care costs for dementia and Alzheimer's patients are about 80% higher than any other long-term care need. This is because dementia and Alzheimer's patients require more “caregiving” in terms of help with basic daily functions. Things that many of us take for granted to be able to do for ourselves, even when we are sick, such as bathing, dressing, toileting, and eating, are all activities many dementia patients require assistance with as the disease progresses. In addition, dementia patients often need someone with them just to protect them from themselves. Many dementia patients wander or harm themselves. Therefore, constant oversight of them is necessary.

Currently, there is no cure for Alzheimer’s, or any other type of dementia. There are treatments that may help slow the progression of the disease. There are also theories related to diet that may help prevention or stave off the development of dementia. However, there are no surefire ways to beat this disease right now. Advocating for the recognition of the costs associated with the disease as well as the heartbreaking effect on friends and family of the patient, is the best way to raise awareness to support the finding of a cure and prevention of dementia. We can all look forward to a day that this disease is a thing of the past because a cure, and/or prevention, has been found.

Click here to get a FREE copy of our book "The Senior and Boomer's Guide to Health care Reform and Avoiding Nursing Home Poverty"

At the Estate Planning & Asset Protection Law Center, we provide a unique education and counseling process which includes our original 19 Point Trust, Estate and Asset Protection Review to help people and their families learn how to protect their home, spouse, life savings, and legacy for their loved ones. Attend a free workshop to discover where opportunities exist to eliminate problems now as you implement plans for a protected future.

You may register now for a free educational workshop - call 800-964-4295 or click the button below, to register and learn more about what youcan do to protect your spouse, your home, and your life savings.

Click Here to Register For Our Trust, Estate & Asset  Protection Workshop

Tags: long term care, Elder Law, seniors, elder care, long term care insurance, dementia, alzheimers, boomers, care costs, alzheimers care

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