In our recent newsletter, we interviewed Kimberly C. Paul, VP of Communications and Outreach at Lower Cape Fear Hospice & LifeCare Center, who created an award-winning public education initiative called “Begin the Conversation: Facing the Elephant in the Room” which addresses the need for all individuals to consider their end-of-life care issues and communicate their preferences with loved ones. Unfortunately, this is not the only “elephant” that needs to be addressed in the estate planning world.
According to a recent survey by EZLaw, women apparently care more about losing weight than about protecting their financial assets. Considering that among Americans 65 and older, 42% of women (and just 14% of men) are widowed, this should not be the case. Ultimately, women will usually have the final say about a couple’s assets and who will eventually receive them . . . whether their children, charity, or the IRS. Women need to begin the conversation regarding this elephant in the room just as much as communicating their end-of-life care issues and preferences. With so much potential power in their grasp, women cannot continue to ignore their estate planning needs either.
To learn more about how to begin the conversation regarding your estate planning, go here.