12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Communicating Your Estate Planning Wishes to Your Heirs in Zip Code 92322

Communicating Your Estate Planning Wishes to Your Heirs in Zip Code 92322


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 gives children time to adjust their expectations and ask questions. Be open and honest about your intentions with your heirs.

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

 
Personalize & Print a Free CA Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Personalize & Print a Free CA Power of Attorney Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Related Legal Services near Zip Code 92322
Hegeler Barton H
4660 La Jolla Village Dr Suite 670
San Diego, CA 92122
(858) 597-9975
Attorneys, Criminal Law Attorneys, Labor & Employment Law Attorneys, Business Law Attorneys, Litigat
Brown's Legal Documents
18314 E Brookport St
Covina, CA 91722
(626) 343-9658
Paralegals, Notaries Public
Seto Fred
1560 Noriega St
San Francisco, CA 94122
(415) 564-9522
Attorneys
Espey Law Offices
1321 20th Ave
San Francisco, CA 94122
(415) 759-9364
Attorneys,  General Practice Attorneys,  Probate Law Attorneys,  Family Law Attorneys,  Wills, Trus
Legal Document & Signing Ctr
1271 Story Rd Ste 50
San Jose, CA 95122
(408) 288-9336
Paralegals, Legal Document Assistance
Besson & Yarbrough Law Offices
4984 El Camino Real # 110
Los Altos, CA 94022
(650) 864-9330
Attorneys, General Practice Attorneys, Legal Service Plans, Estate Planning Attorneys
Robertson Family Law
300 3rd St
Los Altos, CA 94022
(650) 917-9244
Family Law Attorneys, Attorneys, Legal Service Plans
Fuentes Rueben Bankruptcy Attorney
4522 Whittier Blvd
Los Angeles, CA 90022
(323) 262-9200
Attorneys
Deborah C Winter
220 State St
Los Altos, CA 94022
(650) 948-9081
Business Law Attorneys, Attorneys
Sidney Sternick Law Offices
1720 S Main St
Angels Camp, CA 95222
(209) 736-9005
General Practice Attorneys, Legal Service Plans, Attorneys
Frank Mayo
4962 El Camino Real
Los Altos, CA 94022
(650) 964-8901
Attorneys
Jolicoeur Colette
7305 Morro Rd
Atascadero, CA 93422
(805) 461-8600
Family Law Attorneys, Attorneys, Bankruptcy Services, Legal Service Plans, Divorce Attorneys, Bankru
Jolicoeur Colette
7305 Morro Rd Ste 103C
Atascadero, CA 93422
(805) 461-8600
Family Law Attorneys,  Attorneys,  Bankruptcy Services,  Legal Service Plans,  Divorce Attorneys,  B
Kramer Radin LLP
280 2nd St # 100
Los Altos, CA 94022
(650) 941-8600
Attorneys,  Legal Service Plans,  Labor & Employment Law Attorneys,  Tax Attorneys,  Business Law At
Malovos & Konevich
166 Main St
Los Altos, CA 94022
(650) 949-8400
Attorneys,  Business Law Attorneys,  Real Estate Attorneys,  Estate Planning Attorneys,  Probate Law
P H Paralegal Svc
5914 Kantor St
San Diego, CA 92122
(310) 822-8326
Paralegals
Einstein & Spiegel
5243 E Beverly Blvd
Los Angeles, CA 90022
(323) 685-8191
General Practice Attorneys, Attorneys, Legal Service Plans
Sean Norman Nagel, Esq.
7980 Camino Jonata
San Diego, CA 92122
(858) 997-8170
Bankruptcy Law Attorneys
Cooke Kobrick & Wu LLP
166 Main St
Los Altos, CA 94022
(650) 917-8045
Criminal Law Attorneys, Business Law Attorneys, Litigation & Tort Attorneys, Estate Planning Attorne
Hochberg Bradley Law Offices
6418 1/2 Whittier Blvd
Los Angeles, CA 90022
(323) 722-8007
General Practice Attorneys, Attorneys, Legal Service Plans
Le Nhien H & Associates
1692 Tully Rd
San Jose, CA 95122
(408) 528-7924
Immigration Law Attorneys, Immigration & Naturalization Consultants, Attorneys
Kusnir J Michael
4370 La Jolla Village Dr
San Diego, CA 92122
(858) 453-7800
Contract Law Attorneys, Attorneys
Dennis Sanchez
5307 E. Beverly Blvd.
Los Angeles, CA 90022
(323) 725-7714
Attorneys,  Criminal Law Attorneys,  Family Law Attorneys,  Immigration Law Attorneys,  Personal Inj
A-1 Legal Document Services
4071 N Valentine Ave Ste 105
Fresno, CA 93722
(559) 478-7606
Paralegals, Legal Document Assistance
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US