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 43220

Longevity and unusual family relationships can complicate estate planning in Zip Code 43220


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 OH 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 OH 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 43220
Bean & Novack
4589 Kenny Rd
Columbus, OH 43220
(614) 538-9494
General Practice Attorneys, Attorneys, Legal Service Plans
Ball Steven
1010 Old Henderson Rd Ste 1
Columbus, OH 43220
(614) 447-8550
Attorneys
Ball & Tanoury
1010 Old Henderson Rd
Columbus, OH 43220
(614) 447-8550
Attorneys
MIRACLE IP
1151 Bethel Road, Suite 104
Columbus, OH 43220
(614) 459-8000
Legal Service Plans, General Practice Attorneys, Patent, Trademark & Copyright Law Attorneys, Attorn
MIRACLE LAW LLC
1151 Bethel Road, Suite 104
Columbus, OH 43220
(614) 459-8000
General Practice Attorneys, Business Law Attorneys, Patent, Trademark & Copyright Law Attorneys
W Vincent Rakeshaw
4930 Reed Rd
Columbus, OH 43220
(614) 457-7700
General Practice Attorneys, Attorneys, Legal Service Plans
Khasawneh Rateb Ron, Esq
1170 Old Henderson Rd Suite 116
Columbus, OH 43220
(614) 459-6331
Attorneys, Immigration Law Attorneys, Landlord & Tenant Attorneys, Legal Service Plans
Adair III James W
1170 Old Henderson Rd Ste 109
Columbus, OH 43220
(614) 451-6050
Attorneys, Family Law Attorneys, Divorce Assistance, Legal Service Plans
Frasch Joseph F Jr
1550 Old Henderson Rd Suite N-130
Columbus, OH 43220
(614) 326-5544
Attorneys
Carter Wanda L
5025 Arlington Centre Blvd
Columbus, OH 43220
(614) 255-5441
Attorneys, General Practice Attorneys
Jonathan J Schlegel Law Office
1589 Austin Dr
Columbus, OH 43220
(614) 725-5271
Social Security & Disability Law Attorneys, Attorneys, General Practice Attorneys, Legal Service Pla
Levy & Associates
4645 Executive Dr
Columbus, OH 43220
(614) 898-5200
Attorneys, Collection Law Attorneys, Bankruptcy Law Attorneys
Minnillo & Jenkins, CO. LPA
1170 Old Henderson Rd Ste 109
Columbus, OH 43220
(614) 500-4755
Business Bankruptcy Law Attorneys,  Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
Abg
5003 Horizons Dr
Columbus, OH 43220
(614) 451-4227
Attorneys, General Practice Attorneys, Legal Service Plans, Labor & Employment Law Attorneys, Tax At
Britani L Gllwy Law Office
1170 Old Henderson Rd
Columbus, OH 43220
(614) 884-3878
General Practice Attorneys, Attorneys
Justin R. Kelley, LLC
4930 Reed Rd., Ste. 200
Columbus, OH 43220
(614) 371-3631
General Practice Attorneys,  Litigation & Tort Attorneys,  Personal Injury Law Attorneys,  Wills, T
DeBeneditto Umberto
2121 Bethel Rd Ste E
Columbus, OH 43220
(614) 349-3548
Attorneys,  Accident & Property Damage Attorneys,  Legal Service Plans,  Criminal Law Attorneys,  Fa
Bryan B. Johnson
5003 Horizons Dr
Columbus, OH 43220
(614) 457-3272
Attorneys
Cameron Bruce Attorney
1161 Bethel Rd
Columbus, OH 43220
(614) 487-3202
Attorneys, Legal Service Plans
Hoglund Chwialkowski & Mrozik
1550 Old Henderson Rd
Columbus, OH 43220
(614) 382-2228
Administrative & Governmental Law Attorneys, Attorneys
Beggs, Robert J Beggs Caudill
1675 Old Henderson Rd
Columbus, OH 43220
(614) 360-2044
Social Security & Disability Law Attorneys, Attorneys
John T Belton
2066 Henderson Rd Ste 102
Columbus, OH 43220
(614) 457-2034
Attorneys, Legal Service Plans
Marlin James J Jr Atty
2808 Lymington Rd
Columbus, OH 43220
(614) 459-1972
Attorneys
O'Reilly III Patrick F
1614 Lafayette Dr
Columbus, OH 43220
(614) 754-1967
General Practice Attorneys, Attorneys, Patent, Trademark & Copyright Law Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US