11min chapter

Economics Matters with Laurence Kotlikoff cover image

Navigating Elder Care: Trusts, Estates, and Family Dynamics with Harry Margolis

Economics Matters with Laurence Kotlikoff

CHAPTER

Estate Planning Strategies for Aging Parents

Exploring the intricacies of transferring property to children through life estates and irrevocable trusts, focusing on financial security and family dynamics. Delving into aging challenges, care needs, and marriage comparisons, emphasizing the importance of legal planning for elder care, including durable powers of attorney and living arrangements reevaluation. Highlighting the benefits of trusts in estate planning over wills for asset management and distribution, while addressing potential family disputes over inheritance after death.

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