Emma Morano was the world’s oldest individual and the last person known to be born in the 1800s, passed away at the age of 117 in April.
She was born in Italy in 1899 and held the record for the oldest living woman and the oldest living person. Morano story indicates a greater trend across the globe that in many places longevity is increasing and generating complex questions about saving ahead for retirement, producing an estate plan that adjust with your changing lifestyle over those times and having enough strategies in place in order to protect you, should you need long term care in the future.
Although you may not live to age a 117 as Morano did, it is still important to consider how increasing longevity will influence your current retirement and estate plans. You may need documents that outline how you intend to give away your property after you pass away, but power of attorney documents can also empower someone else to step in on your behalf if you become unable to make your own decisions for a short period of time, too.
Consulting with a knowledgeable estate planning attorney is frequently the first step in this process. This involves identifying the strategies and documents you already have in place to address your estate planning needs and how these may change overtime as your major concerns change.