Estate Planning During Your Peak Earning Years
Are you between the ages of 40 and 55? Congratulations, you’re likely experiencing your peak earning years. This stage can bring both financial opportunities and significant responsibilities. It's also an ideal time to reassess your estate plan.
Why Estate Planning Matters Now
During this busy phase of life, you might be facing:
- College expenses for your children
- Wedding costs now or soon in the future
- Caring for aging parents—a responsibility of the "Sandwich Generation"
Although life might feel overwhelming, ensuring your estate plan is current provides peace of mind and protects your family's future.
Key Reasons to Update Your Estate Plan
Protect Your Spouse
Many couples mistakenly assume their spouse can automatically make medical and financial decisions if needed. Without a legally documented plan:
- Medical privacy laws could block access to medical records
- Financial restrictions may prevent your spouse from managing shared finances
- IRS rules might prevent joint tax filing
Without an estate plan, a probate court will appoint someone, often at considerable expense, stress, and loss of privacy.
Secure Your Assets and Legacy
Without proper planning, your assets may be distributed by state "default" laws, potentially disinheriting your spouse or leading to costly legal battles. Careful planning ensures your assets are allocated exactly as you intend.
Safeguard Your Children’s Inheritance
Inherited wealth is at risk of being quickly depleted due to irresponsible spending, divorces, lawsuits, or bankruptcies. Strategic estate planning can protect your children’s inheritance from these threats.
Address Long-Term Care Needs
Did you know there's a 70% likelihood of needing long-term care after age 65? Yet, most underestimate this risk and assume Medicare covers long-term care costs—it typically doesn't. Your peak earning years are ideal for considering affordable long-term care insurance options. Modern policies can even combine long-term care with life insurance benefits.
Ready to Protect Your Family and Assets?
Robbins Estate Law specializes in personalized estate planning to help you avoid probate, secure your assets, and protect your loved ones. Together, we'll create a clear, tailored plan aligned with your goals and values.
Schedule your free consultation today.
Our Practice Areas
Gain clarity on your options with our focused practice areas:
Disputes happen when an estate is not handled fairly. Our estate litigation attorneys represent families in lawsuits over estates, making sure your voice is heard and your interests are protected.
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Probate is the court process of settling an estate, and it can be stressful, expensive, and slow. Our probate attorneys and team step in to guide families through every step, minimizing delays, protecting rights, and honoring final wishes.
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Sometimes a will does not reflect someone’s true wishes. Whether it is due to fraud, undue influence, or mistakes, our will contest lawyers step in to challenge or defend wills in court.
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