Adult Orphans

What Will Boomers Do When They Need Long-Term Care?

Published on: October 25, 2019 | By McCulloch & Miller, PLLC

A generation seems to be waking up to the concept that they are likely to need to care for a spouse or a family member, and they’re taking it seriously.

A study from Bankers Life Center for a Secure Retirement reported that 90% of baby boomers surveyed understand that they will need to make significant lifestyle changes as part of caring for a loved one. Not only are they aware of this as a new role, but according to Think Advisor’s article, “Long-Term Caregiving Realities Hit Home for Boomers” they are willing to take a number of steps, including:

Cut spending: 66%

How Should I Plan to Age as a Single “Elder Orphan?”

Published on: April 5, 2019 | By McCulloch & Miller, PLLC

No one plans to be elderly and alone, but if you are single and either have no immediate family members or are not close with your family, you need a game plan, if you need long term care of any kind.

If you are married, or are close with your children, you probably figure that your children or your spouse will take care of you, when you need help with long-term care. As many as 66 percent of people over age 65 do, at some point in their lives. However, what if you are a single and without family, asks WFMZ TV in a recent article, “The single senior life: Elder orphans.”

While you're still healthy, you should make plans, in the event you find yourself in need of the help that is traditionally provided by a family member. There are solutions, but they require planning.

Are You or Will You Become a “Solo Ager”?

Published on: October 16, 2018 | By McCulloch & Miller, PLLC

“Solo agers or Elder Orphans face unique challenges, as their needs begin to change.”

Did you know that a study from the Pew Research Center says about 20% of the 75 million baby boomers don’t have children—a figure that’s double what it was in the 1970s and one that’s expected to keep rising.

We mention this because these people need someone to count on to always be there, if they need help making decisions and managing their affairs as they get older.

How Singles Can Address Estate, Financial and Emergency Planning

Published on: July 16, 2018 | By McCulloch & Miller, PLLC

Not having a spouse makes it more important for singles to plan to protect themselves from a legal and financial standpoint.

Everyone should have a plan in place for incapacity, affirms fox5atlanta.com in a recent article, “Estate, emergency planning for single people.” This is especially true for singles. While married couples can usually rely on each other, or their adult children, in case of emergency, what happens to singles who don’t have family members? You need a backup plan and a backup person.

In many instances, singles don’t have a backup plan. If you are young and single, then you typically aren’t thinking about a worst-case scenario at all.