The Value of Estate Planning for Baby Boomers

May 14, 2020

A total of 22% of today’s population includes the baby boomer generation. Many of them are quickly reaching retirement age raising important questions about the value of estate planning.

Estate planning is so much more than passing along possessions and assets to millennial children. It is also about protecting their lifestyles and taking a long-range view towards the need for possible Medicaid support or other long-term care planning. The youngest baby boomers are turning 56 in 2020 and many of them have wealth that is expected to grow in the coming decades. 

Plenty of these baby boomers might not consider themselves wealthy outright but having a home, a second property, a car or money set inside a savings account means that you can still benefit from the strategies provided by an estate planning attorney.

This is because estate planning is more expansive than determining what happens to your possessions when you’re no longer around. It takes into account your individual decisions and preferences around long term care and health care. Schedule a consultation today with a knowledgeable estate planning attorney to discuss how this can fit into your plan as a baby boomer.     

Our law office is still open but helping our clients over the phone and virtually. Don’t hesitate to reach out to determine how we can help you connect your estate plan, your elder law plan, and your retirement plan. 


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Spousal Lifetime Access Trusts (SLATs): A Strategic Tool for Wealth Preservation and Family Flexibility

Learn how Spousal Lifetime Access Trusts (SLATs) can help families transfer wealth, reduce potential estate taxes, and maintain financial flexibility for future generations. For many ...

<p>The post Spousal Lifetime Access Trusts (SLATs): A Strategic Tool for Wealth Preservation and Family Flexibility first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

Navigating the Step-Up in Basis: Core Rules, Critical Exceptions, and Strategic Benefits for Families and Business Owners

For many families, business owners, and high-net-worth individuals, one of the most valuable—but often misunderstood—tax concepts in estate planning is the step-up in basis. While discussions ...

<p>The post Navigating the Step-Up in Basis: Core Rules, Critical Exceptions, and Strategic Benefits for Families and Business Owners first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

New State Retirement Plan Requirements for Small Businesses in New Jersey and New York

Small businesses in New Jersey and New York may face new retirement plan compliance requirements in 2026. Learn who is affected, key deadlines, and important ...

<p>The post New State Retirement Plan Requirements for Small Businesses in New Jersey and New York first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>