Women who don’t speak up about estate planning might wind up capitulating to strategies that put them and even their children at a financial disadvantage.  Estate planning is a way for women to care for themselves and the people they love. 

The 4 reasons why women, especially, must have a legal estate plan are:

Reason #1:      Woman live longer than men, and because of this fact, estate planning affects women more profoundly, so women should take charge of this process, or at least be an equal participant.

Reason #2:      Women are the natural caregivers and nurturers of the family. Americans are living longer than ever before due to advancements in medical care.  It’s not uncommon today for families to have three, four and even five generations living at the same time.  Women need to be prepared to navigate difficult situations for their parents, themselves, their children, in-laws, grandchildren and great grandchildren.

Reason #3:      Women need to take care of themselves first. Estate planning is not just for death.  Rather, women need to plan just as much (if not more!) during their life because they live longer and generally have lower lifetime earnings to tap into.  And, because they are the natural caregivers of the family, women need to take care of themselves first so they are able to care for their families.

Reason #4:      Women ultimately make all of the inheritance decisions for their families. Because women live longer than men, women control the wealth and usually get the last word on the ultimate distribution of a couple’s estate.  To be prepared to make these important decisions, women need to know what their estate consists of; the possible options for distribution; and take action to put their final plan in place.

If you are interested in developing your legal estate plan, please email me at laura@lpochelaw.com or call my office at 225-224-8099.  I look forward to the opportunity to assist you.