Easy Questions  
Free Legal Documents

Longevity and modern family relationships make estate planning harder than ever in Alberta, AL

Longevity and modern family relationships make estate planning harder than ever in Alberta, AL


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 AL 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 AL 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 Alberta, AL
Smith Deborah W
102 N Cotton St
Andalusia, AL 36420
(334) 222-9299
Attorneys
Meredith Woods Markham
1608 3rd Ave N
Bessemer, AL 35020
(205) 902-9227
Family Law Attorneys, Attorneys
Sylvester Rod
205 Church St
Andalusia, AL 36420
(334) 222-9199
Attorneys
Sylvester Rod
7 E Court Sq
Andalusia, AL 36420
(334) 222-9191
Attorneys
Lanier Grady
206 S Three Notch St
Andalusia, AL 36420
(334) 222-9189
Attorneys, Legal Service Plans
Woodard Allen G
1213 E Three Notch St
Andalusia, AL 36420
(334) 222-9115
Attorneys, General Practice Attorneys
Bogan Adrienne W
1600 5th Ave N
Bessemer, AL 35020
(205) 424-8875
Attorneys,  Business Bankruptcy Law Attorneys,  General Practice Attorneys,  Bankruptcy Law Attorney
Law Center The For Civil And Criminal Justice
1600 5th Ave N
Bessemer, AL 35020
(205) 424-8875
Attorneys, General Practice Attorneys
Johnson Earl V Atty
29 S Court Sq
Andalusia, AL 36420
(334) 222-8443
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
Armstrong Ralph L
1818 3rd Ave N
Bessemer, AL 35020
(205) 424-8255
Criminal Law Attorneys, Attorneys
Corey D. Bryan, LC
119 E Three Notch St
Andalusia, AL 36420
(334) 222-8220
Legal Service Plans, General Practice Attorneys, Attorneys
Enzor Leland
208 Dunson St
Andalusia, AL 36420
(334) 222-8177
General Practice Attorneys, Attorneys
Hardy, Clifford W Jr PC
1600 3rd Ave N
Bessemer, AL 35020
(205) 428-7348
Attorneys, Legal Service Plans
Bush Willis W
25 S Court Sq
Andalusia, AL 36420
(334) 222-7193
Attorneys, Legal Service Plans
S Scott Allums PC
506 18th St N
Bessemer, AL 35020
(205) 426-7080
Attorneys,  Personal Injury Law Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Divorce Att
Tumlin Edward D
1821 3rd Ave N
Bessemer, AL 35020
(205) 424-6868
Attorneys, Legal Service Plans
Mc Clelland Richard
1821 3rd Ave N
Bessemer, AL 35020
(205) 277-6780
Attorneys
Short, Pete
300 18th St N
Bessemer, AL 35020
(205) 425-6509
General Practice Attorneys,  Attorneys,  Family Law Attorneys,  Legal Service Plans
Foster T Kenneth
300 18th St N
Bessemer, AL 35020
(205) 425-6509
Attorneys, Criminal Law Attorneys, Legal Service Plans
Jewell, Billy C
1724 3rd Ave N
Bessemer, AL 35020
(205) 424-6300
Personal Injury Law Attorneys, Attorneys
Keyes, Jim
720 18th St N
Bessemer, AL 35020
(205) 428-5877
Attorneys
Ausman, Joe
720 18th St N
Bessemer, AL 35020
(205) 428-5877
Attorneys
Lipscomb And Lipscomb
210 18th St N
Bessemer, AL 35020
(205) 235-5712
Social Security & Disability Law Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorne
Hall Don
1616 3rd Ave N
Bessemer, AL 35020
(205) 425-5711
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US