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Federal report underscores growing retirement concerns

In some instances, legal concerns that seem to be fairly confined to one realm -- e.g., criminal law, real estate, business litigation and so forth -- are in fact centered on core issues in a single sphere, with little or no overlap into other areas.

In other cases, though, legally connected subject matter encompasses multiple dimensions that easily spill over into multiple categories.

Consider the following report discussed by the national publication Investment News, for example, which focuses upon the central findings of the U.S. Government Accountability Office relevant to retirement security.

The GAO is an independent entity that works for Congress and closely focuses upon economic matters. Its recent spotlight into national financial health reveals that many Americans are not even remotely well positioned to retire in a secure manner.

The reasons why, notes the GAO, are several and interrelated. The Social Security system needs shoring up and is marked by uncertainty going forward. Too many people are in debt and unable to save, owing to things like high health care costs. And a "marked shift" from company pensions to employee contribution plans (think 401(k) vehicles) has proven to be problematic for many workers.

That widespread state of unreadiness is obviously problematic and has implications across several legal spheres.

Many persons involved in a divorce, for example (especially comparatively older individuals), will obviously have material concerns regarding fair asset distribution in a marital dissolution. If economic uncertainty looms large for the future, a focus upon things like equitable property division and spousal maintenance is easily understandable.

Where financial clarity and a sound future-oriented strategy is sought, estate planning considerations can also come to the fore, with things like asset preservation, lawful tax avoidance and securing eligibility for government-sponsored health programs being crucially important.

A law firm that focuses broadly on those considerations and has an integrated family law/estate planning practice area component can help individuals and families having security-related questions or concerns.

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