The point of an estate plan is to have a plan in place that outlines what a person wants to happen to his or her estate after passing away. It can also include plans for medical care and support a person may need in case of a debilitating injury or illness in the future. Every person's needs are different, but when drafting wills and other estate planning documents, there are often differences between what men and women should consider.
For instance, women often live longer than men do. If the woman remarries or does not have her own estate plan in place, it can lead to financial complications in the future. She would be wise to consider planning for nursing home care and other needs she or her Georgia family may have. A strong estate plan can also protect the interests of the wife if she has to care for her husband or he needs long-term care.
A woman may also want to consider the benefit of Medicaid planning. This can protect a house and other valuable assets in case the husband ends up in a nursing home. Women are also significantly more likely to end up caring for their parents, and they may want to draft certain documents in case they end up have to care for or make decisions for a sick parent.
Through wills, trusts and other types of estate planning documents, Georgia women can protect their own interests and the interests of their families. If a person does not have an estate plan in place, he or she would be wise to consider the benefits of taking this step. It is always smart to have as much legal and financial protection as possible.