As baby boomers live longer, families face challenging questions about care.
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The new reality is that this demand for support will only grow with a population that lives longer. Whether grown children can and will provide more for their parents is an important question. Since the introduction of Social Security and Medicare, families are no longer expected to support their parents or pay for expensive medical care. But that is changing.
During the past 50 years, family life has profoundly changed. Adult children’s decisions are no longer determined by strict rules and norms. The U.S. has one of the highest divorce rates in the world. More than 75 percent of divorcees remarry, with 40 percent of families forming blended households. In light of these statistics, should an adult child be responsible for stepparents?
Meanwhile, the Centers for Disease Control and Prevention estimate the prevalence of elder abuse to be around 10 percent. Although research is limited, the U.S. Securities and Exchange Commission found seniors with serious cognitive impairment are particularly vulnerable. This includes financial exploitation, physical and psychological abuse, and neglect.
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