Easy Questions  
Free Legal Documents

Longevity and modern family relationships make estate planning harder than ever in Admire, KS

Longevity and modern family relationships make estate planning harder than ever in Admire, KS


I've learned that regardless of your relationship with your parents, you'll miss them when they're gone from your life.
 
- Maya Angelou


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. Longevity and modern family relationships (ex-spouses, step kids, step grand kids, siblings) are turning the already tricky matter of estate planning into a giant challenge. 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 KS Last Will Download 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 KS Living Trust Download 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 Admire, KS
Haynes Charles R
1910 18th St
Great Bend, KS 67530
(620) 792-8855
Attorneys, Legal Service Plans
Kaufman & Horner Chtd
1910 18th St
Great Bend, KS 67530
(620) 793-8476
Attorneys, Legal Service Plans
McVay James M
1321 Main St
Great Bend, KS 67530
(620) 792-8231
Attorneys, General Practice Attorneys
Rondeau Mark A
1321 Main St # 300
Great Bend, KS 67530
(620) 792-8231
Attorneys, General Practice Attorneys
Rondeau, Mark A - Watkins Calcara
1321 Main St # 300
Great Bend, KS 67530
(620) 792-8231
Attorneys,  General Practice Attorneys,  Probate Law Attorneys,  Accident & Property Damage Attorney
Shepard Christopher J
1321 Main St
Great Bend, KS 67530
(620) 792-8231
Attorneys, Legal Service Plans
Friedeman Richard L
1321 Main St # 300
Great Bend, KS 67530
(620) 792-8231
Attorneys, General Practice Attorneys
Glendenning, Allen G - Watkins Calcara
1321 Main St # 300
Great Bend, KS 67530
(620) 792-8231
Attorneys,  Labor & Employment Law Attorneys,  Civil Litigation & Trial Law Attorneys,  Discriminati
Horner John
1910 18th St
Great Bend, KS 67530
(620) 793-7874
Attorneys, Legal Service Plans
Carpenter M
1007 Williams St
Great Bend, KS 67530
(620) 793-7817
Attorneys
Keenan Law Firm PA
2200 Lakin Ave # B
Great Bend, KS 67530
(620) 793-7811
Attorneys,  Criminal Law Attorneys,  Wills, Trusts & Estate Planning Attorneys,  DUI & DWI Attorney
Berscheidt Thomas J
2107 Forest Ave
Great Bend, KS 67530
(620) 792-7777
Attorneys, Legal Service Plans
Keenan Martin J Atty
3600 23rd St
Great Bend, KS 67530
(620) 793-7612
Attorneys, Legal Service Plans
Vega Law Offices LLC
510 W Main Street, Suite A
Gardner, KS 66030
(913) 856-7596
Family Law Attorneys, Tax Attorneys, Divorce Attorneys, Probate Law Attorneys, Estate Planning Attor
Jackson Joel B
2018 Forest Ave
Great Bend, KS 67530
(620) 792-7452
General Practice Attorneys, Attorneys
Johnson Steven E
1310 Kansas Ave
Great Bend, KS 67530
(620) 793-7239
Attorneys
Bauer Greg L
1310 Kansas Ave
Great Bend, KS 67530
(620) 793-7239
Attorneys, General Practice Attorneys, Legal Service Plans
Pike Charles R
1310 Kansas Ave
Great Bend, KS 67530
(620) 793-7239
Attorneys, Legal Service Plans
Mark D Lewis
212 E Main St
Gardner, KS 66030
(913) 856-6600
General Practice Attorneys, Attorneys
Huelskamp Terrance
550 N 159th St E # 104
Wichita, KS 67230
(316) 733-6446
Attorneys, Legal Service Plans
Berkley Deborah
1314 Kansas Ave
Great Bend, KS 67530
(620) 603-6314
Attorneys
Angelo Law Office
550 N 159th St E # 205
Wichita, KS 67230
(316) 239-6005
Attorneys, Corporation & Partnership Law Attorneys, Legal Service Plans
Glenn Opie Law Offices
2015 Forest Ave # 102
Great Bend, KS 67530
(620) 793-5455
Attorneys, General Practice Attorneys, Legal Service Plans
Brown, Isern & Carpenter
1909 Lakin Ave
Great Bend, KS 67530
(620) 792-5388
Probate Law Attorneys,  Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Bankruptcy Law A
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US