When creating your estate plan, it’s important to not only consider your personal wishes and goals, but also the needs of your loved ones. Proper estate planning can allow you to make sure that your loved ones are cared for and that they receive the most benefits possible.
Take a look at the guide below for advice on planning with your loved ones in mind. If you have any questions about your estate plan decisions, consult with an estate planning attorney.
- Before choosing to leave an inheritance to your family members, think about each family member’s needs. Does your brother have a drinking problem? Is your daughter bad with money? Does your son have special needs? Do you want to make sure that your grandchildren attend college? Your estate plan should include planning that reflects your loved one’s needs. An estate planning attorney can work with you to make sure that the assets that you leave are protected. This can help to make sure that your loved ones are able to use the assets that you leave correctly and to their best benefit.
- Discuss your estate planning decisions with your family. Giving your family an idea of your planning choices ahead of time could serve to eliminate arguments in the future. Many survivors become involved in serious disagreements because of an inheritance misunderstanding. Discussing your choices can also give your family members a better understanding of your decisions. Don’t feel pressured to share all information with your loved ones. Only discuss information that you feel comfortable sharing.
- When it comes to personal belongings, discuss these treasures with your loved ones ahead of time. Your loved ones may have strong feelings about a particular piece of personal property. This allows you to outline how certain personal belongings will be distributed after your death. It will also allow you to make sure that your loved one’s each receive a personal treasure that is special.
If you have additional questions about creating your estate plan with your loved ones in mind, consult with a qualified estate planning attorney.
Attorney at German Law
Raymond J. German provides a wide range of estate planning services to his clients, with a primary focus on creating peace of mind providing for the security of their loved ones, reducing taxes and avoiding a probate, all with a well-crafted estate plan. Mr. German defines the mission statement for German Law as “Helping one family at a time pass on values, beliefs and finances, that can be shared for generations to come.”
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