A Reliable Estate Planning for Baby Boomers
If you are one of the baby boomers, you must take time to consult a real estate attorney in Sonoma County. You probably know that baby boomers are those people who were born during the phase post-Second World War. It was during this period that a slight increase was noticed in the birth rate across the United States.
Why Should Baby Boomers Consult an Attorney?
Irrespective of your age, if you lose any of your loved ones, things can get complicated. Apart from the immense amount of grief associated with such an unfortunate incident, certain other complications may arise such as issues related to inheritance, probate, and distributions of existing property among the relatives; and can bring along a massively overwhelming experience.
Just in case you’re one of the members of the baby boomer generation, you must take care of all the legal inheritance-related matters beforehand, and shouldn’t wait for too long before things get out of your control.
What Should Baby Boomers Consider During Estate Planning?
If you think that the process of estate planning only resembles the passing over of family wealth from one generation to the other, there are some important aspects needed to be considered.
- Pay Attention to Family Possessions
It has been widely evident that often, family traditions and personal items are considered more valuable by family members than financial remaining and inheritance. If you consider a few of the family items to be extremely important to you, consider consulting the same with your estate planning attorney.
Also, if possible, discuss the matter with your children. Let them know about the things you value the most, and those items that you wouldn’t want to sell in your absence. Remember, we said that estate planning is not everything about financial matters.
- Healthcare Should be Considered
It’s a well-known fact that the costs of healthcare are rising drastically across the country and the globe. In the coming years, these expenses are likely to reach sky-high limits. Therefore, while planning your estate, you must pay equal focus to your healthcare needs beforehand.
Maybe, some people would require long-term healthcare procedures, which might add up considerably to your overall expenses. With inflation rates posing as a big worry for your bank account balance, take your health-related matters into consideration while consulting with an estate planner.
Do You Have Any Need for Special Assistance?
In case you have someone in your family with physical or mental incompetency, make sure that you include their requirements in your estate plan. You wouldn’t want them to face difficulties in their lifetime in your absence. Make sure that their needs are met, even when you aren’t there to care for them.
If you are not sure where to start with looking for a real estate lawyer in Sonoma County, visit Johnston & Associates Law, and you shall get answers to all your questions. Call us at 707-545-6542.