Who Needs a Legal Life Plan?

  • 17 May 2017
  • Author: IEP Team
Who Needs a Legal Life Plan?

When it comes to a Legal Life PlanTM, everyone should have one (and we've covered the why pretty extensively). But there are some people whose needs are more pressing than others, and we're going to talk about those.

Parents with Young Children/Children with Special Needs

When it comes to planning for your future and you have children at home, your plan needs to include provisions for them. Like everything else we've talked about, if you don't have a plan in place, your family will get the default. We're willing to bet that when it comes to those kids, you want to say what happens and not let someone else decide. You'll also want to spend some time thinking about how to provide for those children if they don't have you anymore.

Disclaimer: we know this is a hard topic. Nobody wants to think about this stuff, especially the younger we are. But, ignoring it won't make it go away or make it any easier. Do yourself and your loved ones a favor and just take the leap. It may be difficult, but it will give you a lot of peace of mind knowing that you have a plan in place.

Individuals 5-10 Years Out from Needing Long-Term Care

This one is a little trickier to nail down. How can you predict when or even if you'll need long-term care? Ultimately, you can't. But the longer you wait and the closer you get to needing the long-term care the fewer options you'll have. Some options (like Medicaid) have a five-year wait on some assets before you can qualify. If you know that and take action sooner, the better and easier it will be to take advantage of those options.

So, even if you can't tell the future and predict when you'll need long-term care, you can still take action. Ideally, you'd have a plan in place early and continue to update it as you age and your life changes. It's okay if you don't, there are lots of options if you start now. 

Individuals with Health Problems or Serious Illness

If your health is declining or you have an illness, you can't put planning off. It can make things seem more serious or more real, but you can't assume everything will be taken care of. Now's the time to get a plan in place. You'll want to make sure your loved ones won't have to worry what you want if they can't ask you. And you'll be able to focus on them and getting the most out of your life.

Call us today. We'd love to help you take the first step in getting your Legal Life PlanTM together, no matter if you fit into one of these categories, or are just ready to get started. Our team will take you step by step to ensure you can have the future you envision for yourself and your loved ones.

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