A new study conducted for Des Moines-based insurer ARAG North America Inc., reports that Americans of all ages face concerns when it comes to today’s legal issues, but that a majority do not have a plan for how to pay for any legal expenses that may arise. ARAG specializes in providing insurance for legal services.  

The ARAG-commissioned study, “Legal Needs of Today’s Multi-Generational Population,” was conducted by Russell Research Inc. in March. The study identified legal concerns by generation, including the following:

* Generation Y – Marriage, children and rental issues.

* Generation X – Children and custody matters.

* Baby Boomers – Caregiving, death of a family member and home contractor agreements.

* Silent Generation – Home contractor and real estate transactions.

* All Generations – Estate and financial planning, credit problems and auto-related concerns.

The study also found that only 25 percent of Americans are prepared to handle the actual costs of legal problems, even though three out of four Americans experienced at least one legal life event in the past year. 

Additionally, Americans expect to pay only $141 per hour for an attorney – less than half the average attorney rate of $312.