When Every Dollar Counts

Labor Day has always been about honoring the American worker—the people who build our communities, power our economy, and create the foundation of our society. But this year, as we fire up our grills and enjoy that long weekend, there's an elephant in the room that deserves our attention.

For millions of working families, every dollar has become precious in a way it hasn't been for decades. While we celebrate labor, the reality is that the fruits of that labor aren’t stretching as far as they used to.

Let’s explore why the current economic squeeze makes protecting your hard-earned money more important than ever. We'll review key data on rising costs, why this makes estate planning crucial rather than optional, and how a Legacy Planning Session ensures every dollar you’ve worked for reaches the people you love—instead of being lost to legal complications and unnecessary fees.

The Numbers Are Staggering

According to the Bureau of Labor Statistics, from 2020 to 2024, the cost of living has surged:

• Food: +23.6% (higher than the overall inflation rate of 21.2%)

• Transportation: +34.4%

• Housing: +23.0%

• Rent: +35.8% (rising 1.5x faster than wages since 2019)

• Mortgage rates: From <3% during COVID to a peak of 7.08% in Oct. 2024 (currently ~6.6%)

• New vehicles: +22% since 2019, with average payments hitting a record $742 per month

  
  

In addition, new U.S. tariff rates have driven consumer prices higher and are expected to keep doing so.

This isn’t just about statistics—it’s about real families making real sacrifices:

• Parents skipping meals so their kids can eat

• Young adults moving back home because rent is unaffordable

• Retirees returning to work because savings no longer cover costs

Why a Legacy Planning Session Is More Critical, Not Less

Q: Is estate planning really necessary when money is tight?

A: Yes. When every dollar counts, not having a plan can cost your family far more. Without proper planning:

• Your assets may get stuck in probate court for months or years.

• Court fees and legal costs can consume 5–10% (or more) of your estate’s value.

• Loved ones may be left without access to funds for basic living expenses, medical bills, or keeping the family home.

  
  

The less financial cushion you have, the more devastating these losses can be.

With a Legacy Planning Session, you can:

• Give your loved ones immediate access to resources (instead of waiting on probate).

• Use trusts to protect assets from creditors.

• Preserve government benefits for family members who rely on them.

• Structure life insurance proceeds to last over time instead of being depleted quickly.

• Adapt your plan as circumstances change.

  
  

The Real Cost to Your Loved Ones

Let’s consider a real-world scenario:

Maria’s Story

• Single mother of three, working two jobs to stay afloat.

• Had assets: a small life insurance policy, retirement savings, and emergency funds.

• But she didn’t have an estate plan.

  
  

When Maria tragically died in a car accident:

• Her life insurance was tied up because her ex-husband was still the beneficiary.

• Her children were placed in temporary foster care because guardians had no financial support.

• Legal fees and probate consumed nearly 40% of her savings.

  
  

If Maria had completed a Legacy Planning Session:

• Beneficiaries would have been updated.

• Guardians would have had financial resources to raise her children.

• Her assets would have gone directly to her kids instead of being drained by the court system.

• The process would have been simple and efficient, even with her busy schedule.

  
  

👉 See how we help families avoid this pain with Guardianship Planning.

Take Action Today

This Labor Day, honor your hard work by protecting the fruits of your labor. With today’s financial pressures, planning for the future is not optional—it’s essential.

At Tower Law Group, we help you:

• Protect your assets from probate, taxes, and unnecessary fees.

• Create a Legacy Planning Session that adapts as your family’s needs change.

• Ensure your loved ones inherit security, not stress.

  
  

Next Steps:

1. Schedule your Legacy Planning Session®

   • We’ll discuss your economic reality, family dynamics, and long-term goals.

2. Protect your family’s future

   • Together, we’ll create a plan that ensures your hard work provides stability for the people you love most.

     
     

Book a free 15-minute discovery call and let’s begin building a plan that truly works for the people you love—no matter how many that may be.