Easy Questions  
Free Legal Documents

Longevity and modern family relationships make estate planning harder than ever in Abbyville, KS

Longevity and modern family relationships make estate planning harder than ever in Abbyville, KS


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


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. Longevity and modern family relationships (ex-spouses, step kids, step grand kids, siblings) are turning the already tricky matter of estate planning into a giant challenge. 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 KS Last Will Download 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 KS Living Trust Download 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 Abbyville, KS
Total Attorneys - Divorce
273905 SW Wood View Dr
Topeka, KS 66610
(785) 201-9922
Divorce Attorneys,  Attorneys,  Family Law Attorneys,  Legal Service Plans
Collaborative Divorce Ks City
8686 College Blvd
Overland Park, KS 66210
(913) 451-9876
Attorneys
Gladstone Lois A
8005 W 115th St
Overland Park, KS 66210
(913) 345-9848
Attorneys, Small Business Attorneys, Labor & Employment Law Attorneys
Weaver Tracy
7500 College Blvd
Overland Park, KS 66210
(913) 906-9830
Attorneys, Legal Service Plans
Campbell Todd
7500 College Blvd # 900
Overland Park, KS 66210
(913) 906-9820
Attorneys, Legal Service Plans
Renkemeyer Troy
7500 College Blvd # 900
Overland Park, KS 66210
(913) 906-9810
Attorneys, Legal Service Plans
Rajala Eric C
11900 College Blvd Ste 341
Overland Park, KS 66210
(913) 339-9806
Attorneys, General Practice Attorneys, Legal Service Plans
RCW Law
10975 Benson St # 570
Overland Park, KS 66210
(913) 906-9800
Attorneys, Legal Service Plans
Smithyman & Zakoura
7400 W 110th St # 750
Overland Park, KS 66210
(913) 661-9800
Attorneys, General Practice Attorneys
Zakoura James P
7400 W 110th St # 750
Overland Park, KS 66210
(913) 661-9800
Attorneys, Insurance, Legal Service Plans, General Practice Attorneys
Naibert Robert W Atty
7400 W 110th St
Overland Park, KS 66210
(913) 661-9800
Attorneys
Mobile Paralegal Service
11734 Garnett St
Overland Park, KS 66210
(913) 223-9768
Paralegals
R Michael Latimer Law Offices
11011 King St
Overland Park, KS 66210
(913) 661-9700
Attorneys, General Practice Attorneys
Hagen Law Offices
10801 Mastin St # 110
Overland Park, KS 66210
(913) 236-9696
Attorneys, General Practice Attorneys, Legal Service Plans
Norton Hare
9200 Indian Creek Pkwy # 450
Overland Park, KS 66210
(913) 906-9633
Attorneys, General Practice Attorneys
Hare Lindsay A Atty
9200 Indian Creek Pkwy
Overland Park, KS 66210
(913) 906-9633
Attorneys
Allmayer Daniel N
9393 W 110th St # 500
Overland Park, KS 66210
(913) 768-9557
Attorneys
Robert J Valcrum Attorney
10990 Quivira Rd Ste 200
Overland Park, KS 66210
(913) 948-9400
Attorneys
Long Luder & Gordon PA
9401 Indian Creek Pkwy # 800
Overland Park, KS 66210
(913) 491-9300
Attorneys, Legal Service Plans
Telhorst & Associates
11225 College Blvd
Overland Park, KS 66210
(913) 322-9169
Attorneys, Legal Service Plans
Renkemeyer Law Firm
10975 Benson St Suite 570
Overland Park, KS 66210
(855) 792-9076
Tax Attorneys,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Legal Service Plans
Hovey Williams LLP
10801 Mastin St Ste.1000 84 Corporate Woods
Overland Park, KS 66210
(913) 647-9050
Attorneys, Patent Agents, Patent, Trademark & Copyright Law Attorneys
Adam Mack - Bankruptcy
3735 SW Wanamaker Rd Suite A
Topeka, KS 66610
(785) 274-9040
Credit & Debt Counseling,  Foreclosure Services,  Financial Services,  Bankruptcy Services,  Bankrup
Oliver & Reichel PA
11020 King St Ste 215
Overland Park, KS 66210
(913) 498-8814
Accident & Property Damage Attorneys,  Personal Injury Law Attorneys,  Attorneys,  Medical Malpracti
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US