You Will Inherit Less Than You Expect, Elder Law Attorney, Woodstock, GA

Younger people often think that they will inherit a much larger sum from their parents, than they actually will.

When researchers talk to younger generations about how much of an inheritance they will receive, the responses often surprise them. Young people think the money they receive after their parents pass away, will be enough for them to pay off their bills, buy a home, take vacations and/or have enough for their own retirements.

This is true all over the world.

However, those same researchers find a different story when they talk to the parents of those children.

As you might imagine, the research reveals that the children's expectations are unrealistic, as The Independent points out in "The truth about your inheritance."

The article has some alarming statistics that are specific to the U.K., but the same general idea applies in the U.S. Older Americans do not expect to leave their children as much as the children think.

There are several reasons for this. The parents may not have as much money as the children think. They may prefer to spend the money on their own things rather than leave it for their children.

Another issue is that people are generally living longer, which means they have to spend more of their nest eggs for their own daily expenses.

Both parents and children should take note of this issue.

Older Americans can get estate plans that help make sure their children get something. The children can also make sure that they save their own money for retirement, instead of relying on an inheritance.

Reference: The Independent (Jan. 25, 2017) "The truth about your inheritance."

Hear From Our Clients

“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