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 Flournoy, CA

Longevity and unusual family relationships can complicate estate planning in Flournoy, CA


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 Flournoy, CA
Ronn Bisbee
24040 Camino Del Avion, Suite A-109
Monarch Beach, CA 92629
(949) 481-9664
Collection Law Attorneys, Child Custody Attorneys, Family Law Attorneys, Divorce Attorneys, Attorney
Erickson Brian H
9330 Carmel Mountain Rd
San Diego, CA 92129
(858) 780-9388
Attorneys, General Practice Attorneys
Alex T. Sliheet
9318 Hito Ct
San Diego, CA 92129
(858) 578-9249
Attorneys, Legal Service Plans, Labor & Employment Law Attorneys, Legal Clinics, Employee Benefits &
Mark La Rocque Law Offices
8224 Elk Grove Florin Rd
Sacramento, CA 95829
(916) 681-9001
General Practice Attorneys, Attorneys, Legal Service Plans
Theodore Moraitis
32241 Crown Valley Pkwy
Dana Point, CA 92629
(949) 248-8894
Attorneys, Legal Service Plans
Total Attorneys - Divorce
PO Box 273914
Dillon Beach, CA 94929
(707) 879-8228
Divorce Attorneys, Attorneys, Family Law Attorneys, Legal Service Plans
BlueSky Mediation & Law
950 Lincoln Blvd, Box 451
San Francisco, CA 94129
(415) 568-8135
Attorneys,  Environmental & Ecological Consultants,  Mediation Services,  Arbitration & Mediation At
Paul Darryl J
34092 Violet Lantern St
Dana Point, CA 92629
(949) 487-7087
Attorneys, General Practice Attorneys
House Stanley J
6245 Dial Way
San Jose, CA 95129
(408) 275-6967
General Practice Attorneys, Attorneys, Legal Service Plans
A Abrams
9340 Carmel Mountain Rd, Ste E
San Diego, CA 92129
(858) 240-6751
Bankruptcy Law Attorneys
Asaph Abrams
9340 Carmel Mountain Rd, Ste E
San Diego, CA 92129
(858) 240-6751
Bankruptcy Law Attorneys, Attorneys
Mains Law Office
34052 La Plaza, Suite 206
Dana Point, CA 92629
(949) 545-6504
Estate Planning, Probate, & Living Trusts, Employment Discrimination Attorneys, Securities & Investm
Veta & Veta
13223 Black Mountain Rd - Suite 1177
San Diego, CA 92129
(858) 215-6409
Accident & Property Damage Attorneys, Attorneys
Contested Divorce Help
14 Monarch Bay Plz # 280
Dana Point, CA 92629
(951) 255-6268
Paralegals
S. Robert Walder
1175 Via Valle Vis
Escondido, CA 92029
(760) 510-5914
Attorneys, Social Security & Disability Law Attorneys
Harry Gordon Oliver II
101 Montgomery St
San Francisco, CA 94129
(415) 896-5774
Attorneys, Tax Attorneys, Wills, Trusts & Estate Planning Attorneys
Gevork Bezjian Services
5300 Santa Monica Blvd # 203
Los Angeles, CA 90029
(323) 465-5015
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Robert Johnson Law Corporation
34197 Pacific Coast Hwy Ste 100
Dana Point, CA 92629
(949) 498-4999
Attorneys Referral & Information Service, Attorneys, General Practice Attorneys
Hilovsky Richard T
960 Saratoga Ave # 112
San Jose, CA 95129
(408) 249-3600
Attorneys,  General Practice Attorneys,  Bankruptcy Services,  Legal Service Plans,  Bankruptcy Law
Cynthia G Starkey
1153 Saratoga Ave
San Jose, CA 95129
(408) 247-3454
Attorneys, Social Security & Disability Law Attorneys
Robles Immigration Svc
5300 Santa Monica Blvd # 204
Los Angeles, CA 90029
(323) 913-3441
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Jaret & Jaret
1016 Lincoln Blvd
San Francisco, CA 94129
(415) 362-3435
Litigation & Tort Attorneys, Attorneys
KMK Environmental Strategy
955 Lincoln Blvd
San Francisco, CA 94129
(415) 655-3430
Environment & Natural Resources Law Attorneys, Attorneys
Fred Pardes, APC
34211 Pacific Coast Hwy Ste 103
Dana Point, CA 92629
(949) 443-3400
Business Bankruptcy Law Attorneys, Attorneys, Real Estate Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US