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 Crescent Lake, OR

Longevity and unusual family relationships can complicate estate planning in Crescent Lake, OR


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 OR 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 OR 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 Crescent Lake, OR
Justrom & Assoc Pc
9400 SW Barnes Rd Ste 309
Portland, OR 97225
(503) 445-9904
Attorneys
Fung Caroline
9555 SW Barnes Rd Ste 100
Portland, OR 97225
(503) 384-9900
Attorneys
Richardson James B
9600 SW Barnes Rd Ste 325
Portland, OR 97225
(503) 297-9600
Attorneys
DeBast McFarland & Richardson LLP
9600 SW Barnes Rd Ste 325
Portland, OR 97225
(503) 297-9600
Estate Planning Attorneys,  Attorneys,  Family Law Attorneys,  Divorce Attorneys,  Wills, Trusts &
Baxter & Baxter, LLP
8835 SW Canyon Ln Ste 130
Portland, OR 97225
(503) 297-9031
General Practice Attorneys,  Consumer Cooperative Organizations,  Attorneys,  Legal Service Plans,  
Thompson Anne M
9400 SW Barnes Rd Ste 300
Portland, OR 97225
(503) 292-8990
Attorneys, General Practice Attorneys, Legal Service Plans
Shyshlak Dean
10490 SW Eastridge St # 110B
Portland, OR 97225
(503) 296-7900
Attorneys, Legal Service Plans
Ross Virginia L
8830 SW Woodside Dr
Portland, OR 97225
(503) 292-7674
Attorneys, Legal Service Plans
Cyr & Assoc
4850 SW Scholls Ferry Rd Ste 305
Portland, OR 97225
(503) 297-7330
Attorneys, Legal Service Plans
Sola Robert S
8835 SW Canyon Ln # 130
Portland, OR 97225
(503) 295-6880
Attorneys, Legal Service Plans
Muir & Troutman
8885 SW Cashmur Ln
Portland, OR 97225
(503) 292-6788
Bankruptcy Law Attorneys
Bruce Thompson Law Office
9600 SW Barnes Rd Ste 325
Portland, OR 97225
(503) 226-6491
Attorneys, Family Law Attorneys, Divorce Attorneys, Estate Planning Attorneys, General Practice Atto
Sipprell Ralph C
9011 SW Beaverton Hillsdale Hwy
Portland, OR 97225
(503) 292-6421
Attorneys, Legal Service Plans
Maul Kurt L
8885 SW Canyon Rd Ste 115
Portland, OR 97225
(503) 296-6381
Attorneys, Legal Service Plans
Platten Jack R
8620 SW Gayle Ln
Portland, OR 97225
(503) 227-6266
Attorneys, Legal Service Plans
Hernandez Law Office LLC
955 Main St Ste A
Aumsville, OR 97325
(503) 749-6088
Civil Litigation & Trial Law Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,
Murray Ronald D
9999 SW Wilshire St # 202
Portland, OR 97225
(503) 292-5353
Attorneys, Legal Service Plans
Mayfield Brandon
8835 SW Canyon Ln # 135H
Portland, OR 97225
(503) 292-5063
Attorneys
Anderson Kevin M
9755 SW Barnes Rd Ste 675
Portland, OR 97225
(503) 227-4586
General Practice Attorneys, Attorneys, Legal Service Plans
Anderson John A
9755 SW Barnes Rd Ste 675
Portland, OR 97225
(503) 227-4586
Attorneys, General Practice Attorneys, Legal Service Plans
Posner Law Firm
4905 SW Scholls Ferry Rd
Portland, OR 97225
(503) 459-4455
Attorneys, Criminal Law Attorneys, Real Estate Attorneys, Litigation & Tort Attorneys, General Pract
Cofield Dorothy
9755 SW Barnes Rd Ste 450
Portland, OR 97225
(503) 675-4320
Attorneys, General Practice Attorneys, Legal Service Plans
Kalur Laura
9755 SW Barnes Rd Ste 450
Portland, OR 97225
(503) 595-4145
Attorneys, Legal Service Plans
Jbb Enterprise
9135 SW Barnes Rd Ste 363
Portland, OR 97225
(503) 223-3300
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US