LGBT Seniors Have Resources to Make Retirement Years Less Stressful

The first baby boomers are now the retirement age. A new study shows that millions of gays and lesbians will become 65 and older during the next 20 years. But 20 percent are unsure who will take care of them if they fall ill or incapacitated, the MetLife Mature Market Institute study noted. Researchers also found that LGBT adults had greater rates of distress, disability, and loneliness as compared to heterosexual seniors. For LGBT seniors to have a good quality of life in their golden years, access to senior housing, financial and estate planning, and social events is critical.
LGBT senior facilities are starting to help address these concerns. California opened the first LGBT continuing care retirement community and New York is slated to open one in early 2012. These facilities provide much needed assisted living, independent housing, and Alzheimer�s care. The next step is to create more community drop-in LGBT senior centers and affordable retiree housing.
It is important for LGBT individuals to know they do not have to suffer in silence or feel frustrated about their future. There are legal resources and benefits to safeguard their future and enjoy retirement. Estate planning is a must so that the individual can decide their personal and health care choices early on. This will help to protect assets and ensure that there are enough resources for long-term care. Adequate estate planning will also address the wishes set out in a will, establish the correct trusts, and ensure the advance directives are legally sound.
Littman Krooks LLP counsels individuals to create appropriate estate plans, plan for long-term needs and government benefits, and protect assets. Our New York City, White Plains and Fishkill estate planning attorneys and elder law attorneys are accomplished in asset preservation, trusts, and estate planning. To learn more about New York elder law or New York estate planning, visit http://www.elderlawnewyork.com.