As you bask on the deck of your Lake Lanier lake home this summer, you may start to wonder if your family will continue to enjoy it once you are gone. If you wish to keep your lake house in your family so future generations can use it, it is essential to include it in your estate plan.
Thinking about the future is not easy. This is especially true if it involves making choices regarding medical care and what will happen to a person's estate after he or she passes away. Through specific estate planning tools, such as thoughtfully drafted wills, a person can make plans that give him or her confidence for the future.
The baby-boomer generation is quickly approaching retirement age in Georgia and there are certain issues that should be addressed as one embarks on care planning for one's own, or a loved one's, golden years. A central component of care planning should be an estate plan that takes a comprehensive approach to ensuring that a person's final wishes are successfully carried out. This is not necessarily limited to the disbursement of one's assets but can also encompass end-of-life plans and medical directives should one become physically or mentally incapacitated.
It's not always easy to plan for the future, especially when it comes to making decisions that involve future medical needs. Georgia readers know there are certain steps they can take to maintain control over what happens to their estate after they pass away, but there are other steps readers would be wise to consider. Having an estate plan is important, but care planning is also a crucial step for adults. This allows for a person to outline and plan for potential health care and physical needs in the future.
Seniors represent the fastest growing age group in Georgia and elsewhere as the baby boomer generation enters retirement years. Many in the population qualify for Medicaid. A new law that was recently signed by the governor of Georgia may impact how Medicaid planning is done.