Planning For Your Family Future

Protect Your Legacy Today!

Our Mission
Educating and empowering families to create lasting legacies

Estate Planning for Peak Earning Years

Serving Families and Individuals throughout Rock Springs, Wyoming and the Surrounding Areas

Are you between age 40 and 55? If yes, then congratulations. Research has shown that you are in your peak earning years. And that is a very good thing.

Chances are good that you have some expensive life events going on right now, unlike when you were among the Married Couples without children. Do you have children who are college-bound or already there? Do you have a wedding scheduled (or one or more down the road)? Perhaps you are beginning to help aging parents with personal, health care and financial responsibilities.

Can you say Sandwich Generation?

I know you may be busy and are likely tired, very tired. Nevertheless, this would be a good time to create (or revisit) your estate plan, make sure your adult children and parents have their legal ducks-in-a-row, too.

Unfortunately, many married couples mistakenly believe that they can make personal, health care and financial decisions for one another should either spouse become legally incapacitated due to a serious injury or illness. Nothing could be further from reality!

Without proper estate planning in advance to appoint your spouse as the incapacity decision-maker, he or she will not have legal authority to make even fundamental decisions for you (or affecting both of you). For example, medical privacy laws will bar access to your medical records and the ability to consult with your attending physician, financial laws limit control over your finances, and IRS regulations will prohibit filing a “legal” joint income tax return … for starters.

Unless you legally appoint the decision-maker of your own selection in advance through proper estate planning, then a probate judge will select one for you. While the judge will likely appoint your spouse, the probate court process to accomplish this is expensive (it employs at least three attorneys), discloses your private personal and financial information to the public record and is a real hassle for your spouse.

Did you know that in the absence of proper estate planning, your assets may be distributed after death based on “one-size-fits-all” state laws written for people who do not have their own estate plan? Of course, this impersonal estate plan written by state lawmakers may not reflect your own unique circumstances and objectives for your spouse and assets.

In fact, depending on how you titled your assets and how your beneficiary designations are arranged, you may disinherit your own spouse and force your spouse to sue your estate!

When it comes to your children, great care should be given to protect any inheritance both for them and from them. For starters, wealth representing a lifetime of your hard work and thrift can be squandered in very short order. Dollars earned just spend differently than dollars inherited. In addition to good, old-fashioned squandering, an inheritance can quickly vanish through divorces, lawsuits and bankruptcies.

Fortunately, with proper (and very careful) estate planning, you can provide an inheritance that is protected for and even from your own children. Remember, two things you cannot choose in life are your own folks and the spouses of your children.

Are your parents already in or considering a transition to some form of long-term care? If yes, have you noticed how expensive the continuum of care is? From in-home assistance to assisted living to skilled nursing the expenses can destroy savings and investments created over a lifetime of hard work and thrift.

Your peak earning years are the perfect time to lock-in a long-term care insurance policy while you are still able to qualify physically and mentally. Some versions of coverage only pay if you need long-term care assistance, but others can now do double-duty and turn into life insurance if you do not need such assistance. That is a popular alternative to traditional long-term care insurance.

There is a 70% risk of needing long-term care once you reach age 65. Curiously, 70% of people think they will not be among those 70% needing care (i.e., denial) and 70% of people think Medicare will pay for it (i.e., ignorance)! You do not want to be in that 70% who are in denial, ignorant or both.

If you need assistance with the activities of daily living (e.g., eating, bathing, dressing, toileting, and transferring), then you may want to hire a professional to take care of them instead of your children.

When you are ready for help with your long-term care planning through appropriate insurance, then we can help you find that, as well.

Fortunately, we can help you avoid probate and replace that impersonal, state-written, one-size-fits-all estate plan with one we design together for your unique circumstances and objectives. We even help you coordinate the beneficiary designations on your life insurance and retirement plans with your estate plan to avoid unpleasant, unintended consequences.

Contact us for help with estate planning during your peak earning years.

Speak With an Attorney

Schedule Your Appointment

Schedule today

Client Success Stories

Bethany was amazing very helpful and kind. Made me feel very comfortable in a rough situation. Made sure I got what I wanted set up and took care of me and my family. Awesome job. I recommend her 100%.
Cari Covolo
December 22, 2021.
Bethany was professional, very knowledgeable, personable, and easy to work with. She made the daunting task of setting up a will easy and seamless.
Amanda Larson
October 21, 2021.
Bethany was great! She explained the details of probate and how it works in detail. Our purpose was to protect our children in the untimely event of both of us passing at the same time. The estate planning put our minds at ease. She encourages us to follow up with her periodically and make sure everything is still in order. This impressed us, she cares.
Dale Arey
October 13, 2021.
Bethany was great to work with! We highly recommend Legacy Law. Bethany was always well prepared and made things feel simple and easy to understand. She made a process that can feel overwhelming feel simple and manageable to do. She is very organized, professional and caring. She did an excellent job in preparing all the estate documents and helping us create a living trust!
Carey Larson
October 8, 2021.
Bethany was really helpful in getting our trust set in place; she answered all our questions thoroughly and we have peace of mind that our estate and affairs are in order. Highly recommend!
Paul Alvey
September 6, 2021.
I was pretty nervous/unsure about needing a will/ trust and decided to explore my options. I found an introductory video on-line from Legacy Law. From there I set up a meeting with Bethany and went in with a boatload of questions. My questions were answered patiently and with great expertise. I never felt pressured and came out feeling reassured and comfortable with my choices/decisions. This was all done professionally and in a very timely manner. To this day, if I have a question all I have to do is give Bethany or Brynn a call. It is without hesitation that I recommend Legacy Law and their services.
Patsy Christensen
August 31, 2021.
Thank you LegacyLaw Estate planning was a breeze with them .
Deborah Doak
August 21, 2021.
Bethany was great! Very professional and personal. She was always able and willing to answer our questions and come up with the best solution for our needs. I highly recommend her for estate planning and to navigate all the legal intricacies related to that.
Jeff Wilson
August 20, 2021.
Bethany was very professional, reasonably priced and very thorough when working with us on our trust. We highly recommend her for very individualized planning and attention to detail.
Robin Schamber
August 9, 2021.
Bethany was very professional and easy to work with. She answered all my questions and helped me put together a good living trust that I feel comfortable with. I would highly recommend her to anyone who is thinking about estate planning.
Steve Boyd
August 3, 2021.
Stay Informed

Join Our FREE eNewsletter

Subscribe!
Legacy Law LLC

2620 Commercial Way, Ste. 160
Rock Springs WY 82901

Get Directions
Integrity Marketing Solutions - Estate Planning Marketing
Powered by
crosschevron-down