Estate plans should be regularly updated, particularly after major life events. Some of the events that require updating your estate plan include marriage, remarriage, the birth of children and illness or disability.
Creating a plan for the future -- especially one where you won't be able to speak for yourself -- can be a daunting endeavor. However, this doesn't mean that you should just put it off indefinitely. Unfortunately, this is precisely what many people across Georgia do when it comes to estate planning. They think, "Maybe next year," or, "I have plenty of time to worry about it later."
Over the weekend, residents across Georgia were saddened by the death of legendary boxer, activist and philanthropist Muhammad Ali. His life and his passing had an impact on people all across the globe, from sports fans hailing him as "the greatest of all time" to people inspired by his lengthy battle with Parkinson's disease.
Estate planning might not be something you're thinking about at the moment, particularly if you're young. However, it's important to focus on estate planning eventually, because it helps determine what happens to your possessions if you die.
Many people assume that estate planning is unnecessary unless one is wealthy. Consequently, if you are a single parent, you may think that you do not need a will or trust. However, in reality, estate planning accomplishes several goals other than distribution of assets. Because of this, single parents can greatly benefit from it.
Too many people think that estate planning is all about money and assets. Of course these things will be a top priority when it comes to making your will or establishing a trust, but there is another critical aspect of this process: protecting your loved ones.
Music fans across the world were devastated by the recent news that iconic entertainer Prince unexpectedly passed away. Friends, colleagues, musicians, fans and loved ones have shared countless stories about how the superstar touched, improved and/or affected their lives, but now the stories are becoming less about what we knew about Prince and more about what we don't know.
When many people think of estate planning, they assume that it is something only the very old or wealthy do. However, everyone, regardless of their health, age or wealth, can benefit from setting aside the time to draft a comprehensive estate plan.
Thinking about what you want to happen at the end of your life or after you are gone is probably something you would rather avoid. It can make you and your loved ones feel uneasy, and you might just prefer to ignore the whole situation.
Medicaid is the United States' health care safety net. It is an insurance program for low-income and needy people that provides health-related coverage for children, many seniors, and/or people who are disabled. A widespread and dangerous misconception is Medicare will cover long-term costs. In reality, Medicare benefits for long-term care are very limited. Medicare pays only for skilled care that is deemed "medically necessary," and it does not cover personal care required by most seniors with chronic, custodial care needs.