Why Estate Planning Is a Woman’s Issue

In a nation consumed with wealth-building, it is easy to forget that making profits is only one-half the financial security battles. Evenly important is safeguarding our hard-won financial security with a well-designed estate plan. For females, the value of planning is paramount, because frequently women must manage when family members become impaired or die.

A recent study by Penn Status University discovered that wives were 3 times more likely to get to handle a mate's disease or injury. The analysis also uncovered that few husbands got prepared the sort of estate planning documents that could have eased their wives' burdens.

Without these tools, wives must go through the procedure of living probate, also called a guardianship proceeding, when a spouse may be announced incompetent, and a probate judge decides who should be in charge of his personal health care and financial affairs. To know more information regarding the estate planning, you can also navigate to http://www.edmundvincentlaw.com/.

According to the U.S. Census Bureau, widows older than 65 outnumber widowers by five to 1. So when women lose their husbands, they are generally thrust into poverty. But if you believe impoverished widowhood is something only older people experience, think again.

Ask most wedded individuals whom they would like to inherit their worldly goods, and they'll usually say their spouse should have the lion's share. Alas, most areas use a rigid method for distributing the deceased's resources. In many claims, the surviving partner receives half, with children acquiring an equal share.