Five Reasons Will Challenges are on the Rise.

  1. Elderly population growth. Our elderly population has and will continue to grow significantly. By 2030, more than 20 percent of U.S. residents are projected to be age 65 and over, compared with 13 percent in 2010 and 9.8 percent in 1970.[1]
  2. More people are preparing their own wills. In this “Do-it-Yourself” legal era, more and more people are deciding to prepare their own wills. Naturally, this trend invites challenges to a will.
  3. Complex family structures. Complex family structures are the new norm and can sometimes lead to inter-family rivalry over a loved one’s estate.
  4. Poor economic climate. The poor economic climate for younger generations allows beneficiaries to rely on anticipated inheritances.
  5. Alzheimer’s and Dementia on the rise. The Alzheimer’s Association reports that by 2025, the number of people age 65 and older with Alzheimer’s disease is estimated to increase by 40 percent from 2015. By 2050, the number of people with Alzheimer’s disease may triple.[2] Unfortunately, estate planning documents of Alzheimer’s and Dementia patients are more likely to be challenged.

[1] Jennifer M. Ortman, Victoria A. Velkoff, and Howard Hogan, An Aging Nation: The Older Population in the United States. May 2014. United States Census Bureau. https://www.census.gov/prod/2014pubs/p25-1140.pdf(Accessed October 26, 2015).

[2] Disease Facts and Figures. Alzheimer’s Association.http://www.alz.org/facts/#prevalence (Accessed October 26, 2015).

 

 

 

Disclaimer. This post is not intended to give, and should not be relied upon for legal advice in any particular circumstance or fact situation. No action should be taken in reliance upon the information contained in this article without obtaining the advice of an attorney.

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