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 Bentonville, OH

Longevity and unusual family relationships can complicate estate planning in Bentonville, OH


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 Bentonville, OH
Attorney Daniel Price
1210 E. Main St.
Ashland, OH 44805
(419) 565-9781
Attorneys,  Family Law Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorn
Bucher Andrew R
1728 Allentown Rd
Lima, OH 45805
(419) 227-9595
Casper & Casper
3420 Atrium Blvd Ste 160
Middletown, OH 45005
(888) 352-9396
Attorneys,  Criminal Law Attorneys,  Social Security & Disability Law Attorneys,  Accident & Propert
Herb James
9 Skokiaan Dr
Franklin, OH 45005
(937) 704-9276
General Practice Attorneys
Thinnes Mary Ann
241 W Riverview Ave
Dayton, OH 45405
(937) 220-9139
Family Law Attorneys, Attorneys, Legal Service Plans
Dodson Law Office
1417 Shawnee Rd
Lima, OH 45805
(419) 999-9000
Insurance Attorneys,  Attorneys,  Criminal Law Attorneys,  Personal Injury Law Attorneys,  Legal Ser
DR.A.T.HODGE SERVICE LTD
1695 Franklin
Columbus, OH 43205
(614) 258-8904
Limousine Service, Process Servers, Lobbyists, Clergy, Attorneys Support & Service Bureaus
Cory Frank B
2240 W High St
Lima, OH 45805
(419) 223-8656
General Practice Attorneys, Attorneys
Legow Elliot P
998 Colonial Dr
Youngstown, OH 44505
(330) 759-7988
Estate Planning Attorneys, Attorneys, Wills, Trusts & Estate Planning Attorneys
Renny Tyson
1465 E Broad St # A
Columbus, OH 43205
(614) 253-7800
Accident & Property Damage Attorneys,  Attorneys,  Employment Discrimination Attorneys,  Labor & Emp
Geiger Anthony L Atty
420 S Jameson Ave
Lima, OH 45805
(419) 225-7718
General Practice Attorneys, Attorneys
Elk & Elk Co Ltd
230 Center St
Ashland, OH 44805
(419) 289-7447
Accident & Property Damage Attorneys,  Attorneys,  General Practice Attorneys,  Legal Service Plans
Badnell David C
1519 Allentown Rd
Lima, OH 45805
(419) 222-7362
Attorneys,  Family Law Attorneys,  Legal Service Plans,  Bankruptcy Law Attorneys
Albert & Krochmal
4403 N Main St
Dayton, OH 45405
(937) 275-7170
Bankruptcy Services,  Bankruptcy Law Attorneys,  Attorneys,  Debt Adjusters,  Financial Services,  D
Stein Marc S
4800 Logan Arms Dr
Youngstown, OH 44505
(330) 759-6972
Attorneys, Legal Service Plans
Harpster Vanosdall & Findley
60 W 2nd St
Ashland, OH 44805
(419) 289-6888
Wills, Trusts & Estate Planning Attorneys, Attorneys, General Practice Attorneys, Legal Service Plan
Elk & Elk Assoc Co
209 Blackburn Dr
Lima, OH 45805
(419) 222-6677
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
Anderson C Duane
46 W Main St
Ashland, OH 44805
(419) 289-6500
Attorneys, Legal Service Plans
Runge Law Offices
401 S Main St
Franklin, OH 45005
(937) 746-6425
Attorneys, General Practice Attorneys, Legal Service Plans
Budd Res
254 N Countryside Dr
Ashland, OH 44805
(419) 289-6194
General Practice Attorneys, Attorneys
O'Connell Thomas J
695 Bryden Rd
Columbus, OH 43205
(614) 461-6066
Accident & Property Damage Attorneys, Attorneys, Legal Service Plans
RDT Law
8401 Claude Thomas Rd
Franklin, OH 45005
(937) 743-5770
Family Law Attorneys, Attorneys, Legal Service Plans
Clark's Law Office
617 Miami St
Toledo, OH 43605
(419) 691-5745
Attorneys, Wills, Trusts & Estate Planning Attorneys, General Practice Attorneys
Huelskamp & Kremer Inc
4211 N Main St
Dayton, OH 45405
(937) 275-5731
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US