| The dramatic increase in the number of U.S. Elderly persons, caused directly by an increase in the longevity of human life, has been empirically confirmed. Specifically, this article hypothesizes, by implication, that as the number of U.S. elderly persons increase, due directly to an increase in the longevity of life in the U.S. population, it necessarily follows that the degree of assistance needed by the elderly in their retirement years will also increase. More specifically, this article hypothesizes, by implication, that as the degree of assistance needed by the elderly in their retirement years increases, the retired elderly in the U.S. will face increasingly more complex health care, financial security and asset protection concerns that affect their day-to-day life. Notwithstanding the foregoing, many U.S. retired elderly fail to give adequate consideration to the uncertainty as to what lies ahead, either out of a reluctance to confront their eventual death or a lack of knowledge as to the utter chaos that may result, either later in life or after death. However, given the proper education about proven financial and estate planning strategies (e.g., asset transfers into trust or otherwise, reverse mortgage arrangements, and sale-leasebacks), concerns of U.S. retired elderly persons about health care, financial security and asset protection (and succession) should motivate such persons to seek the assistance of a qualified financial and/or estate planner to alleviate such concerns. With a view toward providing such education, by means of case study approach, the objective of this article is to provide guidance on strategies to alleviate the health care, financial security and asset protection (and succession) concerns of U.S. retired elderly persons in the most common of financial scenarios. It follows that the purpose of this article is to enhance the awareness of U.S. retired elderly persons as to the various financial and estate planning strategies that may be implemented by interdisciplinary professionals to alleviate the health care, financial security and asset protection (and succession) concerns of these elderly persons. Finally, this article argues that if this article's purpose and objective are met, there will be fewer instances of emotional and economic chaos resulting from the uncertainties of life and death, which particularly burden U.S. retired elderly persons.
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Updated 02/23/2014