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 Blanford, IN

Longevity and unusual family relationships can complicate estate planning in Blanford, IN


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 IN 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 IN 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 Blanford, IN
Greeson Wayne
801 W 35th St
Connersville, IN 47331
(765) 825-9690
Banking & Mortgage Law Attorneys, Attorneys
Auger Michael Attorney
150 N Main St
Franklin, IN 46131
(317) 412-9415
Litigation & Tort Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law
Erik Doll
199 N Main St
Franklin, IN 46131
(317) 560-9046
General Practice Attorneys,  Attorneys,  Personal Injury Law Attorneys,  Family Law Attorneys,  Divo
Demkovich Allen
627 N Central Ave
Connersville, IN 47331
(765) 827-8709
Legal Service Plans,  Traffic Law Attorneys,  Attorneys,  Criminal Law Attorneys,  Accident & Proper
Miles Law Office
101 E Monroe St
Franklin, IN 46131
(317) 736-8600
General Practice Attorneys, Attorneys
Smith Gary E
324 N Central Ave
Connersville, IN 47331
(765) 825-8541
General Practice Attorneys, Attorneys, Legal Service Plans
Harvey Jamie H
324 N Central Ave
Connersville, IN 47331
(765) 825-8541
Attorneys
Smith Carpenter Fondrisi & Cummins
PO Box 98
Jeffersonville, IN 47131
(812) 284-8385
Attorneys, Wills, Trusts & Estate Planning Attorneys
Miles Carrie J Atty
40 1/2 E Jefferson St
Franklin, IN 46131
(317) 736-8267
Attorneys
Dickinson Roy L
40 1/2 E Jefferson St
Franklin, IN 46131
(317) 736-8267
Attorneys, Legal Service Plans
Gaddy & Gaddy Attorneys
77 S. Girls School Rd Ste 105
Indianapolis, IN 46231
(317) 244-7650
General Practice Attorneys, Attorneys
Bodwell John W
621 N Central Ave
Connersville, IN 47331
(765) 825-7511
Estate Planning Attorneys,  Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Business Bankru
Baker Jon D
621 N Central Ave
Connersville, IN 47331
(765) 825-7511
Estate Planning Attorneys, Attorneys, Wills, Trusts & Estate Planning Attorneys, Business Bankruptcy
Baker Bodwell & Bryson
621 N Central Ave
Connersville, IN 47331
(765) 825-7511
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Personal Injury Law Attorneys,  Estate P
Jones Auger Jennifer
169 E Jefferson St
Franklin, IN 46131
(317) 346-7300
Attorneys
Johnson Bradley A
150 N Main St
Franklin, IN 46131
(317) 736-7174
Attorneys
Schafstall Robert
98 N Jackson St
Franklin, IN 46131
(317) 736-7146
General Practice Attorneys, Attorneys, Legal Service Plans
Schafstall Robert D
15 Morning Dr
Franklin, IN 46131
(317) 736-5714
Attorneys
Weber Carol
410 N Central Ave
Connersville, IN 47331
(765) 827-5700
Attorneys, General Practice Attorneys, Legal Service Plans, Business Law Attorneys, Personal Injury
Deppe Fredbeck & Boll
9 E Court St
Franklin, IN 46131
(317) 736-5138
Attorneys, General Practice Attorneys, Legal Service Plans
Boll Cynthia A
9 E Court St
Franklin, IN 46131
(812) 378-5137
Attorneys
Harper Michael F
103 E Monroe St
Franklin, IN 46131
(317) 736-4661
Attorneys, Litigation & Tort Attorneys
Butsch Law Office
422 N Central Ave
Connersville, IN 47331
(765) 827-4270
Attorneys,  Accident & Property Damage Attorneys,  General Practice Attorneys,  Legal Service Plans,
Cook Law Firm
402 N Central Ave
Connersville, IN 47331
(765) 825-4195
General Practice Attorneys, Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US