Estate planning is important for both men and women. For women, however, making a plan for the future can be especially important. Whether you are single or married, you need to know what will happen during your golden years. Women’s seminars offered by Collin’s Law Group can provide you with some insight into why estate planning matters so much, and into the unique issues that women face as they get older.
Collins Law Group is here to help men and women at all phases of life to make plans for a secure future. We understand the unique issues women face and the special challenges they can experience during the aging process. Our seminars designed for women focus on the primary concerns that women have during their golden years.
Contact us for personalized advice about estate planning for women, or attend one of our special seminars catering towards females to get some key tips for taking care of yourself now and into the future. In addition to general estate planning info, women can learn:
- Why is estate planning so important for women?
- How can women achieve a more secure future?
- Where and when can I get estate planning information for women?
Why is Estate Planning so Important for Women?
Women live an average of 4.9 years longer than men, which means you need your assets to last longer and you need to make sure you have enough money to last even after your spouse is no longer with you to help you pay the bills. This is made harder by the fact women earn just 81.2 cents for each dollar a man makes, and also by the fact women tend to spend more on home and family than men do. Careful retirement planning is essential if you are worried about struggling with money during the later years of your life.
If your spouse passes away first, as is common for women, it also becomes very important to address issues relating to transferring assets. You want to pass your property on to your children or to people you care about, and you want to avoid or reduce estate taxes. This property may include your own business, as women own 7.8 million businesses in the United States. Asset protection and estate planning all matter a lot so you can control your legacy.
Estate planning also matters to women because women ultimately end up controlling 70 percent of all wealth, and because women have substantial wealth. Collectively, women control $14 trillion in assets in the United States. You owe it to yourself and your loved ones to keep this money safe and secure and to make sure you can achieve great things with it.
The money and property that belongs to you should provide financial security during your golden years, and you should have the chance to control how your money is used to make a difference for your family and charitable causes you care about.
Finally, women are the caregivers in 75 percent of families in the United States. Women care for children, and this doesn’t stop when they become adults. You want to protect the inheritance you leave your kids, and make sure they don’t lose the gifts you’ve given them due to bad financial decisions, creditors, or divorce. Women also care for spouses and parents who get sick, which means nursing home planning and having money to pay for home care assistance can be more important to women than to other family members.
Legacy planning, nursing home planning, retirement planning, and asset protection- these are all the things that matter most to women, and are all the things that are a key part of the estate planning process.
How Can Women Achieve a More Secure Future?
With so many reasons to focus on estate planning, women need to learn how to make legal tools work for them. There are documents you can create and steps you can take to ensure that you can build wealth, preserve your nest egg, and protect yourself and your loved ones. You need to know how to make California law work to your advantage and what types of plans you need to make. For most women, this means considering:
- The use of trusts to protect assets, reduce estate taxes, shield assets in case nursing home care is needed, and to leave a legacy and protect children.
- The creation of a power of attorney so you have someone you trust with your money if something happens to you. Since women are more likely to outlive their spouses, this matters a lot for women.
- The creation of a last will and testament to provide instructions.
These are just a few of many tools that an estate planning attorney can help women to make effective use of.
When and Where Can You Get Estate Planning Information for Women?
If you live in or around the greater Los Angeles area, you can attend a seminar on estate planning for women hosted by Collins Law Group. You can also download information we have prepared for women, or give us a call or contact us online to get personalized advice. Reach out today to get the help you need, as your future is in your hands.