The state of your and your family's future relies heavily on the quality of your estate plans. It takes careful planning to ensure the security of your well-being, property and family. An important part is giving certain people legal powers as executor of the estate or power of attorney.
Georgia families who want to plan ahead for late-life care needs may want to consider an irrevocable trust. When it comes to qualifying for Medicaid, the manner in which assets are held or distributed is incredibly important. Timely Medicaid planning can ensure that a Georgia resident or loved one has the care that is needed when the time comes.
Estate planning isn't just about handing down wealth to one's children. For many Georgia families, giving back to their community is an important component of the estate planning process. There are a number of ways to go about charitable contributions, but how those gifts are handled in wills and trusts matters. Making wise choices can save in taxes while also supporting the causes near and dear to one's heart.
Few people wish to consider their own demise, but younger people have an especially strong aversion to thinking about death. That's understandable, considering that young people in Georgia are focused on getting their careers off the ground, finding a partner and shaping their adult lives. Without proper estate planning, however, those life plans can become derailed swiftly. Millennials need wills and other estate planning documents, even if they don't always recognize that need.
For those in Georgia who live in a blended family, meaning one in which there are children not born of the current marriage, estate planning needs are a bit more complicated. Without the proper precautions, it's possible for one's intended heirs to end up with little or nothing. Wills are not always sufficient to cover every aspect of estate planning needs.
Dementia is a serious brain disorder that is shockingly common. Approximately 5.7 million Americans suffer from the disease, reports the Alzheimer's Association, and projections indicate that number will rise to 14 million by 2050.