Women and men can have differing vulnerabilities as they age.
When it comes to senior years, women tend to face more challenges.
The reality?
They tend to live longer, take on more caregiving roles, and be less financially secure than men.
Taking action before retirement can help women enjoy greater health, independence, and financial security in their golden years.
Women must take steps to protect their independence and financial security, especially as they age.
Physical health is a key contributor to aging well.
Women should schedule regular medical checkups, engage in preventative care, and make positive lifestyle choices.
Women can maintain their strength and mobility by prioritizing nutritious eating and exercise.
Gretchen and I can personally recommend joining the comprehensive health and fitness program at BioFit in Overland Park, Kansas.
Managing stress, seeking mental health support, and scheduling social engagement can also help support cognitive function and overall quality of life.
When women create a comprehensive estate plan, they can retain control over healthcare and financial decisions as they get older.
Neglecting estate planning can lead to legal and financial complications after a sudden cognitive decline or other medical events.
Because women generally live longer than men, prioritizing estate planning to protect themselves and their assets is imperative.
Incapacity is a key component of estate planning.
Those who do not have powers of attorney for healthcare or financial management could subject themselves (and their families) to court control regarding how their affairs will be overseen if they are deemed incapacitated.
Yikes!
What can women do to avoid this outcome?
They can designate a trusted individual to serve as a healthcare agent to make medical decisions if they cannot do so themselves.
Women can also name an attorney in fact (not be confused with an attorney at law) in their financial power of attorney to manage investments, bills, and other property should they become incapacitated.
Housing and independence are important considerations when getting older.
Most women will require some type of long-term care during their lifetimes.
Without long-term care planning, women can quickly deplete savings while paying for nursing facilities, assisted living, or home healthcare.
Making advanced preparations through long-term care insurance can help prevent a significant loss of financial security.
Alternatively, elder law attorneys can help those who might require Medicaid planning to apply and qualify for public assistance benefits.
Estate planning is essential to maintaining control over the distribution of assets.
Both trusts and last wills are key documents used to provide direction for the distribution of savings, personal belongings, or other property.
By having these documents in place, women can avoid triggering legal disputes or probate complications.
If women remarry in their golden years, they should review their estate plans to protect inheritances for any children from previous marriages.
Watch out for fellas looking for a "nurse with a purse"!
Trust but verify.
A comprehensive estate plan with a rock-solid premarital agreement can provide peace of mind for women and their loved ones.
Maintaining social connections and engaging in meaningful activities are essential to healthy aging.
Women benefit from volunteer work, continued learning, and meaningful relationships.
It is also helpful to maintain independence to have accessible transportation, safe living arrangements, and a strong support network.
Although aging can be intimidating and challenging, preparing for the future can help women maintain personal autonomy, financial security, and access to quality care.
Estate planning is necessary to secure legal protections for finances, healthcare, and asset distribution.
If you need an experienced estate planning attorney to help you create a comprehensive plan to address your wishes for long-term care, incapacity, and asset distribution, request a consultation with our Overland Park estate planning law firm.
Women should prioritize their physical health through eating well, exercising, having regular medical care, and engaging socially with others.
In addition to their physical health, they should promote their financial health through retirement savings, Social Security strategies, budgeting, and planning for long-term care costs.
Women should work with an experienced estate planning attorney to create and update trusts, last wills, and beneficiary designations to protect inheritances for their loved ones.
In addition to getting affairs in order, women should maintain social connections and live purposefully to promote healthy and fulfilling lives in retirement.
This post is for informational purposes only and does not provide legal advice. You should contact an attorney for advice concerning any particular issue or problem. Nothing herein creates an attorney-client relationship between Harvest Law KC and the reader.
References: The Washington Post (Feb. 3, 2025) “Most women aren’t following this advice for aging well,” Northwell Health and National Council on Aging (Feb. 15, 2024) “5 Healthy Aging Tips Every Woman Should Know”
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