Ada-Icon
Required

Who Will Benefit from the Great Wealth Transfer? Elder Law Attorney, Woodstock, GA


When the Baby Boomers start passing away in greater numbers, the single greatest transfer of wealth in world history will occur, but the benefit might not all go to their heirs.

Generally speaking, throughout their lives, the Baby Boomer generation has amassed more wealth than any previous generation.  Since they cannot live forever or possibly spend everything they have, much of that wealth will be inherited by their children and grandchildren.

At least, that is where most Baby Boomers who have wealth hope it will go.

The problem is that not enough people have taken the steps necessary to ensure that their wealth does pass as desired.

The Wills, Trusts & Estates Prof Blog recently discussed this subject in “When Wills Become Won’ts.”

The source of the problem is that a significant number of heirs and beneficiaries think the distribution of estates is unfair. That can be bad for an estate by itself, but it is made even worse by the fact that a significant number of parents have not discussed their estate plans with their children.

When a person first hears about an estate distribution after a family member passes away and believes that distribution to be unfair, then the main ingredients are present for a battle over the estate in court.

Estate litigation is very costly and can bleed an estate of much of its assets.

What that means is this: if Baby Boomers are not careful, then much of their great generational wealth will go to lawyers instead of their children.

Reference: Wills, Trusts & Estates Prof Blog (May 28, 2017) “When Wills Become Won’ts.”

 

Hear From Our Clients
tes-prev
tes-next

“On the threshold of retirement, we finally decided to quit thinking we could self-prepare the requisite documents. We had previously had only a very simple will. We needed the necessary legal (including updated will) & health care docs but didn’t want to deal with the time & complication of legalese. Cindy made the process relatively painless. She took the time to explain and answer questions without trying to upsell services. We were done in 2 meetings plus the reading of emailed drafts. In addition to preparing the documents, Nelson Eldercare will be there when our adult children need advice on executing the plans we’ve put in place.So glad it’s behind us and would recommend Cindy and her helpful staff.”

- Bonnie

Cindy and her company treat their clients like family. Nelson’s offers clear, direct, and honest guidance in planning for your families security and future. No one wants to actively sit down and make these decisions, but Nelson’s makes this process seamless. I was so impressed with their willingness to answer all questions big or small. So glad I made the decision have them help my mom and dad and now me. You can’t go wrong with Nelson’s Elder Care Law.

- Hope

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce