ElderLaw News July 2011
- Adult Children Losing $3 Trillion in Caring for Aging Parents
- Prenuptial Agreements Can Be an Estate Planning Tool
- Book Review: The Parent Care Conversation
- Who Gets Copies of the Will After a Person Dies?
- Study Finds Financial Abuse of Elderly Is on Rise
To Clients, Colleagues and Friends:
We are pleased to announce the Grand Opening of our South Hills office! Our second location is in Summerfield Commons at the corner of Route 19 and Boyce Road in Upper .
Americans who take time off work to care for their aging parents are losing an estimated $3 trillion dollars in wages, pension and Social Security benefits, according to a new MetLife study. Meanwhile, the percentage of adult children providing basic care for their parents has skyrocketed in recent years.
As more and more people marry more than once, prenuptial agreements have become an important estate planning tool. Without a prenuptial agreement, your new spouse may be able to invalidate your existing estate plan. Such agreements are especially helpful if you have children from a previous marriage or important heirlooms that you want to keep on your side of the family.
An attorney and financial planner helps adult children broach the subject of future planning with their parents and provides a framework for discussion once the conversation gets rolling.
Many movies and television shows have a scene where a family gathers around a big table after a relative has died to listen to the reading of the will. While this is a great dramatic scene, it doesn’t usually happen like that in the real world. There is no requirement that a will be read out loud to anyone. So what does happen with the will?
Older Americans are losing $2.9 billion annually to elder financial abuse, a 12 percent increase from the $2.6 billion estimated in 2008, according to a new study.