2009 estate tax exemptions
A New 2009 Alzheimer's Report Spotlights the Need to Plan Ahead for Incapacity
On September 21, 2009, World Alzheimer's Day, Alzheimer's Disease International released a new report indicating that the number of people with Alzheimer's or another dementia, currently 35 million worldwide, is expected to nearly double every 20 years, to 65.7 million in 2030 and 115.4 million in 2050. According to the 2009 Alzheimer's Disease Facts and Figures report, issued by the Alzheimer's Association, someone in the United States develops the disease every 70 seconds, and an estimated 5.1 million Americans over age 65 have the disease. This report also states that about 2.7 million people over age 85 have Alzheimer's, and that by the time the first of the baby boomer generation reaches 85 in 2031, an estimated 3.5 million seniors in that age group will have disease.
These statistics highlight the need for estate planning in general and incapacity planning in particular, as well as disability, long-term care, and special needs planning. You may soon be getting questions from clients motivated to take steps to protect themselves, their families, and their property.
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