Senior Sunrise

Many people rue the days when they will be looked at by the general public as senior citizens. My parents are quickly approaching the age of 55, which is often the quantitative measure for being considered a senior, but they have altered my view of what it that term means. They are both fit and maintain active lifestyles—hardly what my stereotype of senior citizens has been up to this point.

As medicine has improved, people’s quality of life is now remaining at high levels for an unprecedented amount of time. While growing old may be discouraging, it doesn’t mean that you can’t remain active and revise the way the public thinks of senior citizens. Besides, there are perks to look forward to—like grandkids and senior discounts.

Establishing a will is virtually a necessity in this day and age, but a living trust is also a sound measure. The first question that people commonly have is “what is a living trust?” A living trust is created during a person’s life and serves as a means to save on taxes and manage property in the long-term.

The main purpose of a living trust is to avoid probate after a person’s death, which is a lengthy and costly process. It will also help reduce estate taxes and streamline the process of allocating the assets. Often times the living trust also has specific directions in the event that the person becomes incapacitated and is unable to communicate their wishes.