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 Hampton, FL

Longevity and unusual family relationships can complicate estate planning in Hampton, FL


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 FL 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 FL 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 Hampton, FL
Forman Law Offices PA
334 NE 1st Ave
Delray Beach, FL 33444
(561) 266-9998
Malpractice Law Attorneys, Medical Malpractice Attorneys, Attorneys
Immigration Visas Services Inc
6856 W Flagler St
Miami, FL 33144
(305) 267-9820
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Walker Moneques S PA
8260 W Flagler St Ste 1E
Miami, FL 33144
(305) 485-9550
Immigration Law Attorneys, Attorneys
Ibertis Edecia
1221 N Main St
Kissimmee, FL 34744
(407) 944-9431
Paralegals
Amerilawyer.Com
9 Dotterel Rd
Delray Beach, FL 33444
(561) 272-9228
Corporation & Partnership Law Attorneys, Attorneys, Business Law Attorneys
O'Farrell Rob
2006 N Harbour Dr
Lynn Haven, FL 32444
(850) 234-9192
General Practice Attorneys, Attorneys, Legal Service Plans
Trafficschoolamerica.Com
1305 New Jersey Ave
Lynn Haven, FL 32444
(850) 814-9111
Traffic Law Attorneys
John Cullum
26843 Tanic Dr., Suite 102
Wesley Chapel, FL 33544
(813) 997-9025
Family Law Attorneys, Divorce Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Atto
Westbay Career School
27212 Foamflower Blvd
Wesley Chapel, FL 33544
(813) 907-8961
Colleges & Universities, Family Law Attorneys, Business & Vocational Schools, Adult Education
Gonzalez Mercedes
26907 Foggy Creek Rd Ste 101
Wesley Chapel, FL 33544
(813) 973-8900
General Practice Attorneys, Attorneys
Bomnin & Villegas Consultant
8500 SW 8th St
Miami, FL 33144
(305) 262-8722
Real Estate Attorneys
Harrison Baya Atty
310 N Jefferson St
Monticello, FL 32344
(850) 997-8469
Criminal Law Attorneys, Attorneys, General Practice Attorneys
Barber Michael J
808 N Main St
Kissimmee, FL 34744
(407) 933-8212
Corporation & Partnership Law Attorneys, Attorneys, Family Law Attorneys, Business Law Attorneys, Re
The Berlinsky Law Firm
35 N 6th Street, Suite 7
Haines City, FL 33844
(863) 409-7961
Andrea Mosley Attorney
1627 E Vine St # 120
Kissimmee, FL 34744
(407) 574-7921
Bankruptcy Law Attorneys, Attorneys
Felicia Williams Law Office
2405 Creel Ln # 102
Wesley Chapel, FL 33544
(813) 991-7773
General Practice Attorneys, Attorneys
Santana Law
5755 W Flagler St
Miami, FL 33144
(305) 269-7727
Immigration Law Attorneys, Attorneys
Rodriguez Eduardo
2558 US Highway 17 92 N 92 N # H
Haines City, FL 33844
(863) 419-7700
Attorneys Referral & Information Service, Attorneys
Solomon Martin M
660 Linton Blvd # 216
Delray Beach, FL 33444
(561) 274-7581
General Practice Attorneys, Immigration Law Attorneys, Attorneys
Pike Therese A
298 NE 2nd Ave
Delray Beach, FL 33444
(561) 274-7500
General Practice Attorneys, Attorneys
Cascio Carl A PA
525 NE 3rd Ave # 102
Delray Beach, FL 33444
(561) 274-7473
Corporation & Partnership Law Attorneys, Attorneys, Business Law Attorneys
Aponte & Assoc-Abogados
1920 Verano Dr
Haines City, FL 33844
(863) 438-7451
Immigration Law Attorneys, Attorneys
Wilbur V Chaney
75 SW 5th Ave
Delray Beach, FL 33444
(561) 276-7447
Bankruptcy Law Attorneys, Attorneys, Legal Service Plans
Matthew J. Jowanna, P.A.
2521 Windguard Cir
Wesley Chapel, FL 33544
(813) 929-7300
General Practice Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US