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.
While wills are the documents people are often most familiar with, trusts are becoming more widely used in estate plans. A trust allows an estate to avoid probate, which can be costly and time-consuming. A trust also allows for an estate to be settled privately where a will going through probate court is a public document that is accessible to anyone.
In addition to trusts, power of attorney documents can also be helpful tools. An elder law power of attorney allows a person to designate a representative who will be empowered to make medical decisions in the event that a person becomes mentally or physically incapacitated. This can be a tremendous help to a family who is dealing with grief and sadness. Making end of life decisions for a loved one can be difficult and stressful and also cause contention between family members.
Facing one’s own, or a loved one’s, mortality is not easy. By taking steps to provide for eventualities in the face of one’s passing, a very difficult time can be made easier and allow for family members to come together in support of each other. A person considering an estate plan and care planning in Georgia can benefit from a discussion with an attorney who can help one craft a comprehensive plan to help ensure that one’s final wishes are successfully carried out.
