How Do You Want to Be Remembered?
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When Jennifer’s father died, her first worry was about her mother and how she will recover. Her mother was so shocked and saddened when it happened that she didn’t want to get out of bed and face the world, let alone deal with paperwork. Luckily, Jennifer’s father had everything in order, allowing her, her mother, and her siblings to focus on grieving instead of being bogged down in financial paperwork and
family bickering.
In a recent survey, relieving the burden on loved ones was the top benefit cited as the main reason why people over 55 get their legal and financial affairs in order. Unfortunately, only about half of those surveyed indicated that they have estate planning in order, even though they acknowledge that their lack of proper end-of-life preparation could leave a mess for their families.
For the survey, Merrill Lynch and Age Wave interviewed more than 3,000 Americans ages 55 and older to gain a comprehensive look at attitudes and practices surrounding legacy planning. The resulting study, “Leaving a Legacy: A Lasting Gift to Loved Ones,” explores a range of topics, including what people most want to be remembered for and the benefits of having your affairs in order.
Passing Along Your Values
A well-prepared legacy can be one of the greatest gifts we can leave to those we love. Most Americans care very much about their legacies—how family and friends will remember them and how heirs will benefit from inheritances passed along. Those surveyed acknowledge that they need to plan for their later years and get their affairs in order. The following is a sampling of some of the findings from the
study:
Order Books by Evan Farr, 4-Time Best-Selling Author
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Certified Elder Law Attorney and Medicaid Asset Protection Expert, Evan H. Farr, CELA, has written four best-selling books in the field of elder law. For more information and to order, click here.
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