Palm Springs Law Blog

Sunday, February 11, 2024

Retirement Reimagined: Estate Planning for Active Adults in the Palm Springs Area

Palm Springs is a wonderful place for active adults to live and work. Along with neighboring Coachella Valley cities, Palm Springs is among the most appealing Southern California communities for those who want an active retirement lifestyle. 

The weather is nearly perfect, the food scene is excellent, and the laid-back desert community is ideal for people who enjoy their peace and serenity but also want to have fun. If you are an active adult living and working in the Palm Springs area, it's crucial that you create an estate plan that meets your unique retirement goals. 

Form a Retirement Plan

If Palm Springs is the desert city of your choice and you'd like to retire here, you may be wondering how to prepare yourself financially for it. For many active adults, retirement feels unattainable, which may keep them from creating a retirement plan. Even if you've decided that you just can't retire, speaking to a financial advisor about retirement planning can help you find creative solutions. 

Attorney Christopher Heritage regularly works with financial planners to help his clients have a clear picture of their assets and Investments, create a predictable path of financial growth, and work towards a retirement plan that functions even while changing markets.

Protect Your Family’s Income

Another critical aspect of retirement planning is ensuring you protect your family's income. It is exciting to think about retiring and enjoying more of the activities you love in Palm Springs. Protecting your income can help you maintain your standard of living, even if a worst-case scenario occurs. 

For example, suppose you develop a serious illness and can't work, become permanently disabled, or experience a medical issue that prevents you from working. In that case, you'll need to ensure that your family continues to receive an income. Income protection, such as California disability insurance, business succession planning, and life insurance, can help you and your loved ones maintain the active lifestyle you love.

Prepare for Long-Term Care Needs

Many people must live in a long-term care facility during their retirement years. Unfortunately, most private insurance policies do not cover stays in such facilities. Creating a long-term care plan is an important aspect of estate planning. 

Attorney Christopher Heritage can help you create a plan to ensure you receive residential support, including living in an assisted living retirement community, if necessary. He can also help you create advanced healthcare directives that allow you to appoint a healthcare agent. 

Your healthcare agent can make healthcare decisions if you become incapacitated due to an illness or injury. Your advance healthcare directive will allow you to state which types of end-of-life treatments and life-saving treatments you would or would not like to receive if you are incapacitated. Additionally, creating a trust may help you become eligible for long-term healthcare benefits.


Contact an Experienced Estate Planning Attorney in Palm Springs

Attorney Christopher Heritage has significant experience helping active adults in Palm Springs prepare for retirement. Whether you have questions about your estate plan or are ready to create a comprehensive one, look no further than Heritage Legal, PC. He regularly works with retirement and financial experts to help clients achieve their retirement goals while protecting their legacy. Don't hesitate to contact Heritage Legal, PC to learn more.

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