Parents Outliving Children

When we think about the cycle of life, we do not think about parents outliving their children.  Unfortunately, this generation of children is the first generation of American children to be less healthy than their parents.  Because of the rising obesity rates among young people, it is been determined that more and more baby boomers may actually outlive their own children.  A recent study has shown that a generation shift in obesity rates is setting the younger generation up for a shorter life expectancy and poorer health in comparison with that of their parents.  Because more and more Americans are getting heavier earlier in their lives and carrying the extra pounds for a longer period of time, it is resulting in a larger degree of chronic disease and a reduced life expectancy.  One would ask, how does this obesity issue impact estate planning?   When it comes to setting up a Will or a Trust, one of the many questions an estate planning attorney must ask is how would you transfer the assets if your child did not survive you?  If your adult child has predeceased a parent, their may be grandchildren that the funds could pass to, but if a child is not survived by their own descendants, the parents need to determine how the money will pass.  Obviously, this is not a fun topic to discuss with families, but with all of these recent statistics, it is an important factor to consider.