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Retirement planning should include care planning as well

It's not always easy to make long-term plans. The future is unpredictable, and it can be complicated to plan for various different types of contingencies and scenarios. As part of retirement planning, a person would be wise to also include care planning as part of that process. Planning for a potential disability or long-term medical needs is a critical part of any solid retirement plan. 

Georgia families may find themselves at a loss in the event that a loved one experiences a medical emergency or needs long-term care. By including this as part of a retirement plan, a person can maintain more control over what happens. This can also shield loved ones from having to make difficult plans or come up with emergency funds to pay for health care. 

Health care planning involves many things. It can include setting aside assets and funds to pay for needs, including long-term or emergency care, as well as normal health care costs. Medication is expensive, and it's smart to also include the potential cost of prescriptions when calculating a potential amount. The sooner a person begins the process of care planning and health care preparations, the more options that individual will have. 

Retirement and care planning can be a complex process, but a person does not have to navigate it alone. It may help to seek the guidance of an experienced Georgia estate planning attorney to discuss needs and potential plans a person may want to make. An assessment of the individual situation can help a person understand how to put the right protections in place for long-term security. 

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At Hodges Law Firm, we handle a wide range of legal issues for clients throughout the Atlanta area, including elder law, estate planning, probate, Medicaid planning and protection, asset protection, litigation, and business law and services. We are knowledgeable in the law and understand the real life implications of legal actions.