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"Estate Planning and Retirement Considerations for Late-in-Life Parents"

"Estate Planning and Retirement Considerations for Late-in-Life Parents"

Older parents are becoming more common, driven in part by changing cultural mores and surrogate motherhood. On this edition of LHR, attorneys Aaron Connor and Nicole Hurley discuss how planning for these parents differ from younger ones.

For late-in-life parents, there is an added importance of having a guardian for your children, should anything happen to you before they are adults. Having a trust can be beneficial when planning for larger expenses, like a child's college fund. However, planning and saving for retirement should remain a top priority no matter what age you have children. While the chance of being able to borrow money for a college education is high, borrowing for retirement is much harder.