The term “oldest old” is utilized within the geriatric community to describe individuals who are at least 85 years of age. In a surprising demographic trend the 10 year age group of people who are between the ages of 85 and 94 grew faster than any other between the turn of the 21st century and 2010.
More and more people are living to this advanced age, and while longevity is good on the one hand there are some challenges that go along with it. One of them is the possibility of contracting Alzheimer’s disease during the latter portion of your life.
There is a very interesting in-depth report on the New York Times website about Alzheimer’s disease. One of the many attention-getting facts that you can extract from the report involves the frequency of the occurrence of Alzheimer’s disease in the oldest old.
Upwards of half of people who have reached the age of 85 are suffering from Alzheimer’s disease. As most people are aware Alzheimer’s disease causes dementia, which can make it impossible for sufferers to make sound decisions.
The reaction from an estate planning point of view would be to include an incapacity planning component in your estate plan. You can utilize durable powers of attorney to name trusted individuals to make decisions in your behalf should it become necessary.
The matter of long-term care is another thing to take into consideration. Alzheimer’s sufferers often need help with their day-to-day needs, and nursing homes are very expensive.
Those who want to be comprehensively prepared for the future should certainly take the possibility of contracting Alzheimer’s disease as an elder seriously. If you would like to start planning for this contingency contact our firm at (216) 472-1500 to arrange for a free consultation.