Estate Planning from the Male Perspective
December 1, 2008
Julie A. Dialessi-Lafley, Esq.
FAST FACTS
- Only about 20% of men survive their female spouse
- A husband dying without an estate plan leaves his wife and family unprotected and fails to ensure that his wishes will be honored after death.
- Men today need to take a closer look at the estate planning process if they are to avoid years of legal dispute and infighting among their heirs and beneficiaries.
Dan was a single guy living at home with his father and working in the family business. When he found out he was going to inherit a fortune when his sickly father died, he decided he needed a wife with whom to share his fortune. One evening at an investment meeting he spotted the most beautiful woman he had ever seen. "I may look like just an ordinary guy," he said to her, "but in just a few months, my father will die, and I will inherit $20 million." Impressed, the woman took his business card, and 3 weeks later, she became his stepmother. Women are just so much better at estate planning than men!
A little humor makes a great opening into an often less than humorous discussion, but is it true that women are better estate planners than men? It is hard to say because frankly both sexes fail at alarming rates to plan their estates properly. Statistics show that only about 20% of men survive their female spouse. The reasons may be obvious: men live more dangerous and risky lifestyles. Men are more likely to smoke, drink, and use illicit drugs than women. Moreover, men are also more likely to behave aggressively and to take risks, which partially explains...
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Healthcare Ledger
December 2008
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