12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Longevity and unusual family relationships can complicate estate planning in Zip Code 78474

Longevity and unusual family relationships can complicate estate planning in Zip Code 78474


I've learned that regardless of your relationship with your parents, you'll miss them when they're gone from your life.
 
- Maya Angelou


Longevity and complex family relationships (ex-spouses, step-kids, step-grandchildren, extended siblings) are turning the already tricky matter of estate planning into a giant challenge.

It is estimated that more than $20 trillion will be transferred to heirs in the next 50 years — the largest transfer of wealth in U.S. history. People are living longer. Health care costs for seniors are eating up family estates. Reliance on others to feed and care for them and their finances can put more elderly at risk of financial or physical abuse by their caretakers.

The number of Americans age 65 and over has topped 40 million, or 13% of the U.S. population. It's estimated that the 65-plus population will make up one-fifth of the nation by 2050. Health care advances are pushing seniors to even longer lifespans, but are also adding enormous costs.

The fastest-growing age group among seniors is 85 to 94, jumping 30% to 5.1 million the last decade, according to the Census Bureau.

Many people mistakenly believe that Medicare and other retiree benefits will pay for their parents' care. In fact, only long-term health insurance will cover custodial care. Sometimes their children will be responsible for their parents in later life. If the estate is not clearly divided in a will, the children who took care of aging parents often feel that they should inherit more than the siblings who did little.

Sometimes, aging parents dangle the prospect of an inheritance to make sure their children will care for them in their later years. Yet the data suggests that most parents tend to distribute assets equally between children.

Family feuds over inheritance can multiply in blended families. There are ex-wives and ex-husbands, children and stepchildren, parents and stepparents. More than 50% of all first marriages end in divorce and about 75% of divorced people will marry again. More than 40% of American adults have at least one step-relative.

There are no foolproof solutions to the estate planning problem, but talking the issues out when parents are still alive can help. And planning is crucial. People might fight over money. They might fight over over memories. They might even fight over sentimental items. It is best to start planning at the first signs of health problems rather than waiting until you have to be put in a care facility.

Recognize that estate planning is hard. Whenever it involves money, someone always feels that they're on the short end of the stick. There is no perfect formula for the distribution of wealth. But plan you must, because we're all going to die at some point and you want to show your loved ones that you loved them all equally.
 
Personalize & Print a Free TX Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free TX Living Trust Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Zip Code 78474
Chern Dan Law Offices
660 N Central Expy Ste 200
Plano, TX 75074
(972) 516-9911
Attorneys, General Practice Attorneys, Corporation & Partnership Law Attorneys, Business Law Attorne
Nwaneri Anthony
6776 Southwest Fwy # 550
Houston, TX 77074
(713) 784-9815
Attorneys, Legal Service Plans, General Practice Attorneys
Robert Demarco
101 East Park Blvd
Waring, TX 78074
(972) 562-9700
Bankruptcy Law Attorneys
Maida Law Firm
8303 Southwest Fwy
Houston, TX 77074
(713) 785-9484
Insurance Attorneys, Attorneys, Criminal Law Attorneys, Personal Injury Law Attorneys, Product Liabi
Barron & Barron LLP
660 N Central Expy Ste 101
Plano, TX 75074
(972) 422-9377
Bankruptcy Law Attorneys,  Attorneys,  Legal Service Plans,  Business Bankruptcy Law Attorneys,  Gen
Law Office Kevin P Gallagher
8323 Southwest Fwy # 710
Houston, TX 77074
(713) 489-9350
General Practice Attorneys, Attorneys, Legal Service Plans
Datascope Litigation Support
7322 Southwest Fwy #1802
Houston, TX 77074
(713) 688-9300
Recording Service-Sound & Video, Paralegals, Video Conferencing Equipment & Services, Transportation
The Draper Law Firm, PC
555 Republic Dr
Plano, TX 75074
(972) 905-9251
Attorneys,  Divorce Attorneys,  Legal Clinics,  Family Law Attorneys,  Corporation & Partnership Law
Haugen Law Firm PC
555 Republic Dr Ste 200
Plano, TX 75074
(972) 905-9246
Civil Litigation & Trial Law Attorneys, Attorneys, General Practice Attorneys, Legal Clinics, Divorc
William J Tinning Law Offices
1013 Bluff Dr
Portland, TX 78374
(361) 643-9200
Insurance Attorneys, Personal Injury Law Attorneys, Attorneys
Nicholas R. Smith
555 Republic Dr Suite 200
Plano, TX 75074
(972) 422-9176
General Practice Attorneys, Attorneys, Legal Service Plans
Megan Rachel Law
1405 Vontress St Apt 1101
Plano, TX 75074
(972) 853-8737
Attorneys, Family Law Attorneys, Divorce Attorneys, Legal Service Plans, General Practice Attorneys
Law Office
850 Central Pkwy E
Plano, TX 75074
(972) 424-8605
Civil Litigation & Trial Law Attorneys,  Attorneys,  General Practice Attorneys,  Business Law Attor
Keller Loretta
1027 E 15th St
Plano, TX 75074
(972) 516-8600
General Practice Attorneys, Attorneys
Michael R. Sices, PC
2000 N. Central Expressway, Suite 209
Plano, TX 75074
(469) 383-8560
Wills, Trusts & Estate Planning Attorneys,  Tax Attorneys,  Business Bankruptcy Law Attorneys,  Con
East Nathan A
101 Cedar Dr # F
Portland, TX 78374
(361) 643-8541
Attorneys
Gay McCall Isaacks Gordon May & Roberts PC
777 E 15th St
Plano, TX 75074
(972) 424-8501
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Mediation Services,  Divorce Assistance,  Chi
Petersen David P
8303 Southwest Fwy # 810
Houston, TX 77074
(713) 779-8500
Attorneys, Legal Service Plans, Civil Litigation & Trial Law Attorneys, General Practice Attorneys,
Gardner John L & Associates Attys
9301 Southwest Fwy
Houston, TX 77074
(713) 270-8500
General Practice Attorneys, Attorneys, Legal Service Plans
Larry B. Douglas
7322 Southwest Fwy
Houston, TX 77074
(281) 407-8381
Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Legal Service Plans,  Criminal Law Attorneys
Walker Howard D
8313 Southwest Fwy # 240
Houston, TX 77074
(713) 779-8200
Attorneys, Legal Service Plans
Nathan Jeffrey
8323 Southwest Fwy # 708
Houston, TX 77074
(713) 271-8111
General Practice Attorneys, Attorneys, Legal Service Plans
Associates of Attorney Mdtrs
PO Box 741955
Dallas, TX 75374
(972) 669-8101
Mediation Services
Ugbala Ify
6776 Southwest Fwy # 515
Houston, TX 77074
(713) 782-7990
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US