When a loved one has a chronic illness, it can impact the members of a Georgia family in significant ways. One of the most important steps to make sure that a sick family member has everything he or she needs is to move forward with the care planning process. Thinking ahead and planning for the future can reduce financial and legal complications down the road.
Having a child is a huge milestone for you and your spouse. It is exciting and intimidating all at once. Parenting brings many new opportunities, challenges and responsibilities in various factors of your life. As you embark on this new adventure, it is important not to neglect the importance of estate planning.
A Georgia couple may think that they do not need to make any financial or legal plans because they are young, do not have kids or are not wealthy. In reality, estate planning, including wills, is a smart choice for couples of all income levels and ages. Lack of planning can lead to complications in the future, and it's never too early to have legal and financial protections in place.
Receiving bad news about one's health can be a substantial setback. It can also cause Georgia residents to feel the need to get their affairs in order, including those relating to their end-of-life wishes. Wills and other estate planning documents can help parties ensure that those wishes are known ahead of time, even if the prognosis is not dire.
People in their golden years often have increased needs for care. Though many can rely on their savings or on adult children for long-term care, there are many seniors in Georgia who do not have those options. They often have to rely on Medicaid to ensure that their needs are met. However, many state lawmakers are worried that the aging population may result in a strain on state budgets as society tries to find a way to care for increased numbers of senior citizens. Medicaid planning will be a vital part of dealing with this potential problem.
When two Georgia families join together through marriage, it can be a legally and financially complex process. It's not easy to join two lives together, and simply changing names and having accounts adjusted is not enough. Blended families will find it beneficial to take certain estate planning steps as well, including making sure wills are updated and trusts are drafted.