What is the 5@55 Campaign?

5@55 is a national educational campaign to encourage 55-year-olds and older to get their “legal house in order.” It is supported by lawyers from around the country as well as a book, 5@55: The Five Essential Legal Documents You Need by Age 55 (Quill Driver Books, 2015), which was written by partners in our firm, Judith D. Grimaldi and Joanne Seminara.

The 5@55 Campaign highlights the Essential Legal Tools every 55+ year old must have in place to be legally prepared to age successfully and be protected in case of incapacity or death. The 5@55 program creates a legal lifeline with the following documents:

• The Health Care Proxy
• The Power of Attorney
• The Living Will
• Last Will or Trust
• A Digital Estate Plan

Why age 55?

Age 55 is the optimal time to begin estate planning. Most individual family responsibilities to support children are ending. The focus can now turn to establishing a life plan for an individual’s later years. At age 55, many of us take precautionary steps, prioritize planning for the future, consider retirement and begin to plan for major health changes. The 5@55 Campaign makes age 55 the time to enter this important planning phase, similar to the way 65 is the accepted age to retire. The 5@55 Campaign creates a deadline and gives added impetus to those who procrastinate about taking these necessary steps. These necessary steps also apply to any adult but they become more necessary as we approach retirement and the later years. We welcome all ages to the 5@55 campaign.

Why do so many people procrastinate and fail to plan?

We carry insurance to cover a wide variety of emergencies. People routinely purchase life insurance to cover dependents. In some cases, the purchase of fire, theft, and auto insurance is mandated. Health insurance is a protection everyone seeks. We don’t give these purchases a second thought. And yet so many people skip the legal safety net of five (5) essential legal documents which make up the 5@55 Campaign. These five (5) legal planning tools ensure that our life choices and health decisions can be made before we face a health or legal crisis. As with any other form of insurance, these legal documents can prevent future problems.

Bringing the Problem to Life

Because most people hold their financial lives close to the vest, the problems that arise because of poor legal planning usually play out behind closed doors. The 5@55 Campaign brings these problems out of the closet by offering real life examples and case histories that will effectively demonstrate why legal planning is so essential. The 5@55 Campaign identifies the pitfalls of not being prepared and demonstrates how using a skilled attorney can help you avoid future problems. Contact Grimaldi Yeung Law Group today for assistance.