Women, Wealth & Legacy: Securing Your Future

Women are at the forefront of financial power in the U.S., controlling $14 trillion in assets and owning 8.6 million businesses that generate over $1.3 trillion annually. Additionally, women outlive men by an average of five years, meaning they will likely be the final financial decision-makers in their families.

Despite this, women are significantly less likely to be involved in estate planning (or as we call it, life planning). Why? Many believe they don’t have enough wealth to need a plan, assume their spouse has it covered, or think they can do it themselves with online forms. However, life planning is about more than just wealth—it’s about ensuring your family, your assets, and your business are protected.

Why Life Planning is Essential for Women

Without a structured life plan:

• Courts could decide how your wealth is handled, leaving your assets vulnerable to delays and unnecessary costs.
• Business succession becomes uncertain, which could jeopardize your employees and clients.
• Your wishes for healthcare, finances, and legacy could be left unclear, leading to family disputes or government interference.

A comprehensive life plan ensures:

• Your assets are managed and passed on according to your wishes.
• Your children and loved ones are financially secure.
• Your business can survive without probate delays.
• Your healthcare preferences are legally documented.

Common Mistakes Women Make in Life Planning

When it comes to life planning, women often fall into a few common traps that can leave their futures—and their families’ futures—vulnerable. One major pitfall is simply not having a plan at all. Without a structured approach, state laws end up deciding the fate of your assets, which rarely reflects your true wishes. Many women assume that their spouse or partner has it covered, or they believe that online forms are enough to secure their legacy. Unfortunately, these assumptions can lead to unexpected legal hurdles and financial uncertainty down the line.

Another frequent error is neglecting to update beneficiary designations. Life is full of changes—divorce, remarriage, the arrival of new children—and failing to revise your estate documents accordingly can result in assets going to unintended recipients. It’s a reminder that your life plan should be as dynamic as your life, adapting to every new chapter.

Women also sometimes overlook the importance of protecting business and real estate assets. Without clear succession planning, even well-established ventures or valuable properties might not transfer according to your wishes. This oversight can put the very future of your business or property at risk, causing complications for both employees and heirs.

Finally, long-term care planning is often forgotten. Given that women typically live longer than men, it’s crucial to consider future medical and end-of-life expenses. Without proper planning, you may find yourself—or your loved ones—facing overwhelming costs and tough decisions when the time comes.

Avoiding these missteps is key to creating a robust life plan that truly reflects your values and safeguards your legacy. Taking the time now to address these issues not only protects your assets but also ensures that your hard work continues to benefit your family for generations to come.

Don’t wait—take the first step today. Call us at 904-329-7242 or visit MarkMossLaw.com to schedule a consultation and start protecting what matters most.

Because life is complicated enough—your plan shouldn’t be.