Baby Boomers are today's sandwich generation, wedged between the costs of caring for their kids and the costs of caring for aging parents
Tucson, AZ (PRWEB) October 21, 2008
With a massive Baby Boomer population approaching retirement age and the current economic squeeze impacting American wallets, advanced long-term care planning is now more crucial than ever. To help educate families on these senior issues, the National Academy of Elder Law Attorneys (NAELA) and AARP have joined forces to present a free Webcast on Oct. 30 at 1:00 pm ET entitled "Aging in America - How to Plan for it."
The live-streamed discussion will be Webcasted at http://www.naela.org. AARP's William Stoner will moderate the discussion, featuring insight from NAELA members Ronald Fatoullah and Bernard A. Krooks on what families should do now to prepare for the future. During the program, attendees will also have the opportunity to ask their own questions of the panel.
"Baby Boomers are today's sandwich generation, wedged between the costs of caring for their kids and the costs of caring for aging parents," said Krooks, a New York-based Certified Elder Law Attorney and past president of NAELA. "With the government providing less and less of a safety net for its citizens, Americans must plan ahead to finance long-term care costs."
According to a NAELA consumer survey taken in November 2006, nearly half of the Baby Boomers questioned had experienced higher co-pays and insurance premium increases, while another quarter had to arrange for care for a family member. More than 1,000 people aged 35 and older were included in the senior issues survey, which also found that the top concerns of many Americans are "losing their physical health" and "running out of money."
"These findings also demonstrate that all seniors should have an advance directive in place, whether it's a living will or durable power of attorney for healthcare," said Fatoullah, a Certified Elder Law Attorney based in Great Neck, NY. "Without the proper documents in place, the cost and disruption to a family can be immense."
From living quarters to living wills, the three experts will help educate the audience on any options related to senior housing and medical decisions. Other topics might include maintaining a financial legacy for children, how to talk with aging parents about long term care options and the key documents to have in place for healthcare decision-making.
"Recent AARP reports paint a bleak picture when it comes to retirement dreams and the financial security of Americans, particularly those over the age of 50," said Stoner, Associate State Director, AARP New York. "Many older Americans can't afford to wait a decade for the economy to turn around. They need help planning for their long-term care now. AARP is pleased to join NAELA for this free Webcast dedicated to these critical issues."
"Aging in America" will be Webcast "live" from 1:00 to 2:00 p.m. ET. All public attendance is via the Internet. To attend, visit http://www.NAELA.org and click on the "Aging in America" Webcast registration button. There is no charge to attend, but attendance is limited.
Established in 1987, the National Academy of Elder Law Attorneys (NAELA) is a nonprofit association that assists lawyers, bar organizations and others. Members of NAELA are attorneys who are experienced and trained in working with the legal problems of aging Americans and individuals of all ages with disabilities. The mission of the National Academy of Elder Law Attorneys is to establish NAELA members as the premier providers of legal advocacy, guidance and services to enhance the lives of people with special needs and people as they age. NAELA currently has more than 4,000 members across the United States, Canada, Australia and the United Kingdom. For more information, visit http://www.naela.org.
About Elder Law
Elder law is a specialized area of law that involves representing, counseling and assisting seniors, people with disabilities and their families in connection with a variety of legal issues, with a primary emphasis on promoting the highest quality of life for individuals. Typically, elder law addresses the convergence of legal needs with the social, psychological, medical and financial needs of individuals. The elder law practitioner handles estate planning and counsels clients about planning for incapacity with health care decision making documents. The attorney also assists clients in planning for possible long-term care needs, including at-home care, assisted living or nursing home care. Locating the appropriate type of care, coordinating public and private resources to finance the cost of care, and working to ensure the client's right to quality care are all part of the elder law practice.
Contact: Stan Samples 404-252-3663