Hundreds of thousands of people in Georgia and throughout the United States die without ever having executed final wills and testaments. Similarly, many elders ignore the need for long-term care planning, which can cause a lot of complications in their lives when sudden needs arise that they are not prepared to meet. There are several significant reasons why so many older people ignore this late-life issue.
Long-term care: Is it time for an assisted living plan?
Thousands of adult children in Georgia and throughout the nation have become care providers for their aging parents. These sons and daughters no doubt love their parents and are doing their best to balance their own family life and professional obligations with the amount of time they spend at the homes of their parents, helping them with any number of issues, such as cooking, personal hygiene, transportation and more. Some families are currently trying to discern whether the time has come in their particular situations to execute an assisted living plan.
Should I fund an incentive trust?
Adults of all ages can benefit from establishing trusts for the assets they plan to leave to their heirs. But there are multiple types of trusts, and no one-size-fits-all version to fit every circumstance.
Senior citizens in Georgia often worry about these things
Many Georgia families include elders who are nearing or have entered their golden years. Loved ones beyond age 65 are often sources of great stories that provide information about family lineage, or they may simply share humorous, touching or interesting memories from the past. As adult children do their best to help their aging parents get their finances and other issues in order so they can enjoy their late-life years, they may notice them facing some particular challenges that are common among senior citizens.
Scheduled trust in place for Anthony Bourdain's daughter
Food icon Anthony Bourdain's fans in Georgia and throughout the country were saddened at the recent headlines that announced his sudden, unexpected death. He was the father of an 11-year-old girl. He had also been planning to divorce his wife; however, the divorce was never finalized. While some estate analysts who have reviewed his situation say he did not leave behind a thorough enough plan, one thing he did do was place money in trust, with his child as the primary beneficiary.
Yes, it's possible to protect assets against Medicaid
Did you know that someone turning 65 today has around a 70 percent chance of needing medical support and long-term care during his or her life? According to the U.S. Department of Health and Human Services, that's the truth, but it's something many people don't fully recognize.
Using a trust to skip a generation in inheritance
Many people, perhaps including some in Georgia, have an aversion to thinking about their own mortality. Others understand the importance of pondering such things and to place certain things in writing regarding asset protection, wills and other estate planning matters. Various documents may be part of an estate plan, including a trust or durable power of attorney.
