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 Herlong, CA

Longevity and unusual family relationships can complicate estate planning in Herlong, 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 Herlong, CA
Public Counsel Law Center
312 S Hill St
Los Angeles, CA 90013
(213) 613-9956
General Practice Attorneys, Attorneys
Hopkins & Carley-A Law Corporation
70 S 1st St
San Jose, CA 95113
(408) 286-9800
Attorneys, Bankruptcy Services, Financial Services
Roberts & Elliott Attorneys
10 Almaden Blvd
San Jose, CA 95113
(408) 275-9800
Litigation & Tort Attorneys, Attorneys, General Practice Attorneys
Ross Jay M
70 S 1st St # 408
San Jose, CA 95113
(408) 286-9800
Real Estate Attorneys, Attorneys
Wenzel Robert D
70 S 1st St # 408
San Jose, CA 95113
(408) 286-9800
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
Capurro Joseph V
300 S 1st St # 245
San Jose, CA 95113
(408) 217-9725
Personal Injury Law Attorneys, Attorneys
Daley John M
95 S Market St # 300
San Jose, CA 95113
(408) 993-9577
Business Law Attorneys, Attorneys, General Practice Attorneys, Legal Service Plans
Pupach, Timothy A
95 S Market St
San Jose, CA 95113
(408) 971-9445
Attorneys
Lapin, Daniel L
99 Almaden Blvd Ste 1080
San Jose, CA 95113
(408) 271-9270
Employee Benefits & Worker Compensation Attorneys, Attorneys, Legal Service Plans
Briski Kael M
4 N 2nd St # 550
San Jose, CA 95113
(408) 297-9100
Attorneys,  Labor & Employment Law Attorneys,  Accident & Property Damage Attorneys,  Corporation &
AntiPrudential.org
6746 Nixon St
Lakewood, CA 90713
(562) 412-9016
Employee Benefits & Worker Compensation Attorneys, Attorneys, Labor & Employment Law Attorneys, Lega
Proposition 215 Attorney
555 West Fifth Street 31st Floor
Los Angeles, CA 90013
(213) 596-9008
Corporation & Partnership Law Attorneys, Drug Charges Attorneys, Landlord & Tenant Attorneys
Bewley J Michael
160 W Santa Clara #625
San Jose, CA 95113
(408) 292-9000
Labor & Employment Law Attorneys, Sexual Harassment Attorneys, Attorneys
Anderson Jacqueline A Law Corp
111 W Saint John St # 205
San Jose, CA 95113
(408) 293-8993
Attorneys, General Practice Attorneys, Legal Service Plans, Family Law Attorneys, Divorce Attorneys
Daniel Dezhan Li
84 W Santa Clara St, Suite 560
San Jose, CA 95113
(408) 844-8984
Real Estate Attorneys, Attorneys
Terry LaPorte
125 S Market St Ste 1075
San Jose, CA 95113
(408) 293-8810
General Practice Attorneys, Attorneys
Gabel Tamara J
177 Park Ave
San Jose, CA 95113
(408) 279-8636
General Practice Attorneys, Attorneys
Halpern Law Offices
111 N Market St
San Jose, CA 95113
(408) 286-8595
Attorneys,  Mediation Services,  Arbitration Services,  General Practice Attorneys,  Legal Service P
Richard B Vaught Law Offices
111 W Saint John St # 500
San Jose, CA 95113
(408) 275-8523
Insurance Attorneys,  Attorneys,  Business Law Attorneys,  Personal Injury Law Attorneys
Richard B Vaught Law Offices
111 W Saint John St Ste 500
San Jose, CA 95113
(408) 275-8523
Insurance Attorneys, Attorneys, Legal Service Plans, Business Law Attorneys, Personal Injury Law Att
Lola U. Fenner
28 North First St, Ste 100
San Jose, CA 95113
(650) 906-8517
Civil Litigation & Trial Law Attorneys, Employment Discrimination Attorneys, Family Law Attorneys, G
American Legal Search
555 W 5th St # 3000
Los Angeles, CA 90013
(213) 996-8458
Attorneys Support & Service Bureaus, Attorneys, General Practice Attorneys
Holden Green-A Professional Corporation
111 N. Market Street Ste#300
San Jose, CA 95113
(408) 451-8449
Civil Litigation & Trial Law Attorneys
Thomas F Mueller Law Offices
95 S Market St # 300
San Jose, CA 95113
(408) 292-8420
Legal Service Plans, Criminal Law Attorneys, General Practice Attorneys, Litigation & Tort Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US