Who needs estate planning?
You should have a plan if you want to make sure you stay in control of your financial and healthcare decision making in the event of your disability. You should also take the time to plan if you want to make sure your wealth goes to who you want, when you want, the way you want. If you have children who are minors (under the age of 18), parents who are aging, or are married or have a life partner, or anyone else depending upon you, it makes sense to make plans in the event something happens to you. Finally, if you or your spouse have a chronic condition which may require nursing home care you may want to do a special kind of planning called Medicaid Planning.
One misunderstanding about estate planning is it only needed if you are very wealthy or if you are old. This is not true. Even young people have responsibilities, can become disabled, or die. Even if you do not have family, or are just starting out, you still need to have “advanced directives” – a Durable Financial Power of Attorney, Health Care Power of Attorney, HIPAA Release and Living Will in place. Even a person who has not accumulated a lot of wealth will want to leave what they have to specific persons.
So, you can see having a plan for if you were to become disabled or for when you die is truly important for everyone over the age of 18!
At Goldberg & Associates, we specialize in handling elder law and elder law cases. All of our resources are at your fingertips when you work with Goldberg & Associates. We will do everything in our power to ensure the maximum amount that can be saved, will be saved for your retirement. No stone goes unturned at Goldberg & Associates; we are prepared to make sure you do everything you need to in order to max out those savings options, and make way for the time when you will get to retire.