As the wealthiest and largest generation in history, many baby boomers look forward to retirement after a lifetime spent building a life for their families. Along with the opportunities you’ve been working toward, however, many boomers also face unique estate planning challenges, even if you don’t think you’ll have many financial resources to leave behind. Below are a few details baby boomers should think about when crafting their estate plans.

Estate Planning for Baby Boomers

Passing on Sentimental Items

Clothes, souvenirs, and family heirlooms may be extremely important to your loved ones, who may care more about these items than any financial assets. Talk to your friends and family members about what belongings are most important to them and start planning who these items will go to. Having an estate planning attorney include them in your will makes your wishes legally enforceable and can prevent bitter conflicts between family members in the future.

Planning for Long-Term Care

Approximately 70% of people who reach the age of 65 will need long-term care at some point in their lives, which can be extremely expensive. While government programs will cover some of these costs, without a sound estate plan, you might be required to deplete your resources first.

Making Medical Decisions

Accidental injuries and sudden illnesses can leave you unable to communicate with your doctors. Including a living will in your estate plan allows you to make end-of-life health care decisions, giving consent to certain procedures, denying others, and describing outcomes you’d expect. Making these decisions not only gives you peace of mind, but it can also spare your family from having to make them for you.

Whether you’re ready to retire or just started building your life, the Law Offices of Robert B. Liotta, Esq. offers the knowledgeable estate planning counsel you need. With over a decade of experience serving clients throughout Lower Burrell, PA, this law firm has the expertise to identify unexpected challenges and find solutions to ensure your wishes are respected. Visit their website for more on their estate planning services, and call (724) 334-9870 to arrange your no-obligation consultation today.