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 Ladonia, TX

Longevity and unusual family relationships can complicate estate planning in Ladonia, TX


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 TX 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 TX 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 Ladonia, TX
Oberg Law Office
1839 Ridgeview St
Mesquite, TX 75149
(972) 682-9700
Legal Service Plans,  Attorneys Referral & Information Service,  General Practice Attorneys,  Attorn
Tonya Spaeth Ahlschwede
522 Main St
Junction, TX 76849
(325) 446-9425
General Practice Attorneys, Attorneys, Legal Service Plans
Blanchard Gary
7805 Wheel Rim Cir
Austin, TX 78749
(512) 288-9355
Attorneys, Legal Service Plans
Ford & Watts P
211 Gibson St
Mesquite, TX 75149
(972) 289-9200
General Practice Attorneys, Attorneys
Sigel Adrian
2441 E Highway 377 Ste 109
Granbury, TX 76049
(817) 573-8899
Attorneys, Family Law Attorneys, Divorce Attorneys, Wills, Trusts & Estate Planning Attorneys, Legal
Gibbs Larry Weldon PC
5717 Northwest Pkwy
San Antonio, TX 78249
(210) 690-8858
Attorneys, General Practice Attorneys
Adam J. Flood
4018 Mt Everest Way
Katy, TX 77449
(866) 249-8387
Accident & Property Damage Attorneys, Personal Injury Law Attorneys, Attorneys
Smith, Ben
1909 25th St
Snyder, TX 79549
(325) 455-8305
Attorneys
Bowman Wallace
117 W McCart St
Krum, TX 76249
(940) 482-8100
Personal Injury Law Attorneys, Litigation & Tort Attorneys, Attorneys
The Najera Law Firm
4600 Monterey Oaks Blvd
Austin, TX 78749
(512) 476-7879
General Practice Attorneys, Attorneys
Terry K Fleming
2441 E Highway 377 # 110
Granbury, TX 76049
(817) 579-7196
General Practice Attorneys, Attorneys, Legal Service Plans
Morris David L
12175 Network Blvd., Suite 150
San Antonio, TX 78249
(210) 201-6161
Estate Planning Attorneys, Probate Law Attorneys, Wills, Trusts & Estate Planning Attorneys, Attorne
Marli Multi Services
3616 N Fry Rd
Katy, TX 77449
(281) 829-6018
Immigration & Naturalization Consultants, Attorneys, Immigration Law Attorneys, Tax Return Preparati
Mike O'Briant
2911 College Ave. Suite 101
Snyder, TX 79549
(325) 574-4524
Criminal Law Attorneys, Family Law Attorneys
198 District Attorney Office
501 Main St
Junction, TX 76849
(325) 446-3674
Attorneys, General Practice Attorneys, Legal Service Plans, Family Law Attorneys, Divorce Attorneys,
Mark Hargrove Law Office
2701 College Ave
Snyder, TX 79549
(325) 573-3277
General Practice Attorneys, Attorneys
Willi Law Firm PC
9600 Escarpment Blvd Ste 745 PMB 34
Austin, TX 78749
(512) 288-3200
Brown Michael J
1823 25th St
Snyder, TX 79549
(325) 574-2000
Mon. - Fri. 9am - 5pm, Sat. - Sun. CLOSED
Inreach
5700 S Mo Pac Expy
Austin, TX 78749
(512) 381-1570
Attorneys Support & Service Bureaus
Hoffmeyer & Grass Inc
112 S Bryan Belt Line Rd
Mesquite, TX 75149
(972) 285-0391
Attorneys, General Practice Attorneys
Rick Guerra
6363 De Zavala Rd Ste 300
San Antonio, TX 78249
(210) 884-0259
Bankruptcy Law Attorneys, Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US