Easy Questions  
Free Legal Documents

Communicating Your Estate Planning Wishes to Your Heirs in Barbeau, MI

Communicating Your Estate Planning Wishes to Your Heirs in Barbeau, MI


If a man's character is to be abused, say what you will, there's nobody like a relative to do the business.
 
- William Makepeace Thackeray


Open communication from parents about their Estate Planning Wishes can give children a lifetime to adjust their expectations and ask questions about why the property was being split up the way it was. Be open and honest about your intentions—even if your heirs have to deal with unhappiness now.


Don't settle scores with a will

It can be a big mistake to favor one child over the others when you're leaving property, even if you're trying to correct past financial inequities. If you really feel that one child deserves something extra, rather than doing it in your will, consider doing it while you are still alive.

For example, if you paid for business school for your daughter and didn't give your son anything for his education, then you could give him a cash gift during your lifetime—perhaps a down payment on a house. If one child took care of you for 10 years in the family home and the others didn't help at all, then consider giving her a direct payment for the time invested—and explain to your other children at that time why you're doing it.


If you are determined to favor one or more of your children in your will, at least let all your kids know about your decision well in advance. This can be uncomfortable, but when the whole family knows what to expect, it can minimize hurt feelings down the road. Even discussing these decisions may cause hurt and anger, but it needs to be done so that the heirs get a chance to get some answers to their questions. They may not like the answer, but they'll at least understand why you did what you did. At the end of the day, it is your money and you should feel a need to apologize for any decision you make.

Include a note to the heirs

To make absolutely sure there are no misunderstandings, it's a good idea to write a brief letter to your children, to be read before the will. Explain why you made the decisions you did.


Consider paying taxes and funeral expenses with life insurance

Estate taxes, inheritance taxes, and funeral expenses can be a burden on your heirs. A great way to cover that cost is to take out a life insurance policy to pay these expenses.

If you are in a second marriage and you have grown children from the first marriage that you'd like to bequeath something to, you could leave them a set amount of money in the form of a life insurance policy. It's a great way to guarantee that your current family's lifestyle won't be disrupted, without forgetting the kids you had with your first wife or husband. Cash from a life insurance policy help to maintain the peace between the two families when the will is read.

Sell the vacation homes when you stop using them

Once you reach a certain age, you may find you're not really up to the long drive up to the vacation home any more. You may want to confer with the kids to see whether they actually want it. If not, the simplest thing to do is to sell it yourself.


Cash is king

That brings us to what may be the most controversial advice of all when leaving property: don't do it. If there is more than one child, coming up with a plan that's flexible enough to deal with life's twists and turns while keeping everyone happy is almost impossible. Making multiple children co-owners of a shared property can be messy.

Knowing that you loved them can be the best gift of all

 
Edit, Download, & Print a Free
Michigan Last Will
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Edit, Download, & Print a Free
Michigan Power of Attorney
Page 1
Page 2
Page 3
Page 4
Page 5
 
Edit, Download, & Print a Free
Michigan Living Trust
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
Related Legal Services near Barbeau, MI
Mark N Awada Law Office
35957 Mound
Sterling Heights, MI 48310
(586) 801-9745
Attorneys, General Practice Attorneys
Bobay Thomas P
3626 Dunckel Rd
Lansing, MI 48910
(517) 853-9595
Attorneys,  Social Security & Disability Law Attorneys,  Corporation & Partnership Law Attorneys,  L
Fleck Charles A
208 E Mount Hope Ave
Lansing, MI 48910
(517) 484-8811
Attorneys, Legal Service Plans
Antkoviak & Antkoviak PC
416 Hubbard St
Allegan, MI 49010
(269) 673-8468
Attorneys, Legal Service Plans
Nolen Michael J
3626 Dunckel Rd
Lansing, MI 48910
(517) 333-8451
Attorneys
Kastran Stephen A
313 Hubbard St
Allegan, MI 49010
(269) 673-8407
Attorneys, General Practice Attorneys, Legal Service Plans
Livingston Clarence L
1091 37th St
Allegan, MI 49010
(269) 673-8363
Accident & Property Damage Attorneys
Elias Kafantaris
1515 W Mount Hope Ave
Lansing, MI 48910
(517) 482-8337
Attorneys
De Mott Russell A
1244 Lincoln Rd
Allegan, MI 49010
(269) 686-8330
Attorneys
Goldman & Lulgjuraj Law Offices
2107 E 14 Mile Rd Ste 140
Sterling Heights, MI 48310
(586) 939-8299
General Practice Attorneys, Attorneys, Legal Service Plans
Green Emily F
327 Hubbard St # A
Allegan, MI 49010
(269) 673-8224
Attorneys, Legal Service Plans
Frank R Langton & Assoc
33200 Dequindre Rd Ste 100
Sterling Heights, MI 48310
(586) 268-8200
Personal Injury Law Attorneys, Attorneys, Labor & Employment Law Attorneys
Allegan Law Offices
327 Water St
Allegan, MI 49010
(269) 673-8133
General Practice Attorneys, Attorneys, Family Law Attorneys, Legal Service Plans
Klein Paul W
126 Locust St
Allegan, MI 49010
(269) 686-7400
Attorneys, General Practice Attorneys
Wolf Heidi L PC
217 Hubbard St
Allegan, MI 49010
(269) 673-7273
Attorneys, Legal Service Plans
Verde Holly
141 Brady St
Allegan, MI 49010
(269) 673-5800
Attorneys, Family Law Attorneys, General Practice Attorneys, Legal Service Plans
Boumis Law Offices PC
4001 Norfolk Ct
Lansing, MI 48910
(517) 393-5563
Attorneys, Criminal Law Attorneys
Yee, Marshall A - Kempf & Yee
913 W Holmes Rd Ste 130
Lansing, MI 48910
(517) 580-5379
Attorneys Referral & Information Service, Attorneys
Pierson David E
1305 S Washington Ave # 102
Lansing, MI 48910
(517) 482-4890
Attorneys, Legal Service Plans
The Bankruptcy Law Center
913 W Holmes Rd
Lansing, MI 48910
(517) 393-4545
Bankruptcy Law Attorneys,  Attorneys,  Bankruptcy Services,  Business Bankruptcy Law Attorneys,  Gen
Buczkowski Leonard J
5584 Metropolitan Pkwy
Sterling Heights, MI 48310
(586) 795-4500
Attorneys
Kempf Robert
913 W Holmes Rd
Lansing, MI 48910
(517) 394-4430
Bankruptcy Law Attorneys,  Credit & Debt Counseling,  Attorneys,  General Practice Attorneys,  Legal
Brian Richards
1005 S Washington Ave
Lansing, MI 48910
(517) 372-3919
Immigration Law Attorneys,  Attorneys,  Legal Service Plans,  Administrative & Governmental Law Atto
Smith Kenneth I & Assoc
4215 S Pennsylvania Ave
Lansing, MI 48910
(517) 393-3660
Attorneys,  Estate Planning, Probate, & Living Trusts,  Real Estate Attorneys,  Adoption Law Attor
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US