As time passes on, more and more baby boomers are starting to enjoy retirement and a life in their golden years. That being said, there are still plenty of boomers out there that haven’t taken care of all of their estate planning needs. Hiring a great estate planning lawyer to square everything away is always a great idea, especially for older generations. There are quite a few important things for baby boomers to consider when they are taking care of estate planning. That’s why we’ve prepared the following article to go over some of the most important things that baby boomers should consider during estate planning. Remember that paying for a great inheritance attorney is a great way to make sure your family is taken care of after you are gone. Reach out to Millman Legal today to speak with an estate planning lawyer and discuss the best course of action for your situation.
Rising health care costs are definitely something you should consider as you are preparing your estate plan. It’s quite common for baby boomers to need long-term health care, which can be very expensive. That means you should talk to your estate planning lawyer about entitlements to Medicaid benefits and nursing home expenses. The more you can figure out now, the better off you will be in the long run with your healthcare needs.
There are some items in a family that your family members will care about more than others. These family keepsakes can be a lot more important to your children and family members than monetary assets. It’s a good idea to go over what means the most to your children in terms of family keepsakes to avoid making them deal with conflict later on down the road. Any great estate lawyer can help you detail what will happen with certain family keepsakes when you are creating your estate plan.
The last important thing for baby boomers to consider during estate planning is their charitable wishes. If there are certain charitable endeavors that you want to make sure are taken care of when you are gone, make sure you have them down in legal documents. Discuss your charitable wishes with your estate planning lawyer to make sure your wishes are always clearly outlined in your estate plan.