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 95920

Longevity and unusual family relationships can complicate estate planning in Zip Code 95920


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 CA 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 CA 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 95920
Daniel J Roemer Law Office
1390 Willow Pass Rd Ste 192
Concord, CA 94520
(925) 349-9928
Administrative & Governmental Law Attorneys, Attorneys
Gilmore Wood Vinnard & Magness
7108 N Fresno St Ste 410
Fresno, CA 93720
(559) 448-9800
Gilmore Wood Vinnard & Magness
10 E River Park Pl E
Fresno, CA 93720
(559) 448-9800
Attorneys
Walter & Wilhelm Law Group a Professional Corporation
205 E River Park Circle Ste 410
Fresno, CA 93720
(559) 435-9800
Labor & Employment Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Business Law Attorneys,
Justice For All Legal Center
480 N. Magnolia #101
El Cajon, CA 92020
(619) 593-9700
Paralegals, Bankruptcy Services, Divorce Assistance, Legal Forms, Notaries Public, Legal Service Pla
Barnett and Rubin Professional Corp
5450 Trabuco Rd
Irvine, CA 92620
(949) 261-9700
Attorneys,  Bankruptcy Services,  Bankruptcy Law Attorneys,  Legal Service Plans
Bruce D. Gleit
7 Nantucket
Irvine, CA 92620
(949) 727-9690
Attorneys, Insurance, Legal Service Plans
Rivas Jacob J
7050 N Fresno St # 208
Fresno, CA 93720
(559) 263-9667
General Practice Attorneys, Attorneys
Kutrubes Peter
2001 Salvio St # 17
Concord, CA 94520
(925) 969-9600
Attorneys Referral & Information Service, Attorneys Support & Service Bureaus, Attorneys
Craig P. Fagan
6320 Raydel Court
San Diego, CA 92120
(619) 528-9600
Family Law Attorneys, Real Estate Attorneys, Collection Law Attorneys, Discrimination & Civil Rights
Donald J Devries Law Office
6475 Camden Ave
San Jose, CA 95120
(408) 268-9500
Attorneys, Divorce Assistance, Family Law Attorneys, General Practice Attorneys, Legal Service Plans
Catholic Charities
4575 Mission Gorge Pl
San Diego, CA 92120
(619) 287-9454
Immigration & Naturalization Consultants, Attorneys, Immigration Law Attorneys, Social Service Organ
John E Petze Law Offices
205 Claydelle Ave Ste 101
El Cajon, CA 92020
(619) 441-9404
Attorneys,  Civil Litigation & Trial Law Attorneys,  Business Law Attorneys,  Personal Injury Law At
Zef Mihilli Law Offices
6136 Mission Gorge Rd
San Diego, CA 92120
(619) 702-9394
Attorneys Referral & Information Service, Attorneys, General Practice Attorneys
Divorce Document Svc
205 Claydelle Ave # 205
El Cajon, CA 92020
(619) 589-9333
Paralegals, Divorce Assistance
Nilc-Banning
6350 W Ramsey St
Banning, CA 92220
(951) 845-9300
Paralegals
Wright Janet L
7110 N Fresno Street, Suite 420
Fresno, CA 93720
(559) 435-9300
Estate Planning, Probate, & Living Trusts,  Attorneys,  Business Law Attorneys,  Agricultural Law
McCarthy Joanne C-Legal Doc Asst
2204 Concord Blvd
Concord, CA 94520
(925) 689-9244
Legal Document Assistance, Attorneys, Paralegals, Attorneys Support & Service Bureaus
Fortino Andrea
7405 Eigleberry St
Gilroy, CA 95020
(408) 842-9154
General Practice Attorneys, Attorneys
Oren & Oren Inc.
470 E Herndon Ave
Fresno, CA 93720
(559) 438-9139
Attorneys
Eleazarian John P
7489 N 1st St
Fresno, CA 93720
(559) 261-9110
Attorneys
Carol Ann Moses
575 E Alluvial Ave Suite 105
Fresno, CA 93720
(559) 449-9069
Attorneys, Criminal Law Attorneys
Bail Bonds in Buena Park
6651 Beach Blvd
Buena Park, CA 90620
(888) 201-9040
Criminal Law Attorneys, Domestic Violence Attorneys, DUI & DWI Attorneys, Bail Bond Referral Service
Bail Bonds in Los Alamitos
3202 Katella Avenue
Los Alamitos, CA 90720
(888) 201-9040
Criminal Law Attorneys, Domestic Violence Attorneys, DUI & DWI Attorneys, Bail Bond Referral Service
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US