Baby boomers who are getting ready to retire have many different concerns including their own financial future and paying for health care in terms of long term care, in addition to ensuring that they have assets set aside to pass on to their loved ones.
There is no doubt that estate planning is a common issue that elderly people grapple with because they are not sure of how to approach it or simply assume that it is not something they need to consider. There are many different issues affecting the younger generation as well, making it all the more likely that millennials put off the estate planning process.
Millennials are struggling with rising inflation, stagnant wage growth, and unaffordable property. They may be counting on inheritance from a baby boomer in order to make things work in the future. Baby boomers often put off their own planning until it is too late and don’t realize the devastating impact that a sudden incapacitating event can have on their future. This is why it is so important to schedule a consultation with an experienced estate planning lawyer immediately to give you the peace of mind that you have taken the necessary steps to plan ahead and look well into the future.
Estate planning does not have to be difficult regardless of the challenges you are facing, whether it is looking for how to support long term care costs in the future or planning for your own retirement.
