Difficult Estate Planning Decisions
Maybe you have a son who has made horrible financial decisions in his adult life and you are worried about leaving him a large sum of money in your estate plan. Maybe you have a son who has worked hard in school and is a teacher who never make as much money as your daughter who is a surgeon and you want to reward his decision to sacrifice financial wealth for his dedication to giving back to his community.
Talking to Beneficiaries about Estate Assets
The decision to leave one beneficiary more than another is often not a difficult decision. The difficulty lies in telling the beneficiaries that they are not getting equal distributions from the estate assets. It is not necessarily a reflection of a parent’s love for one child over another though. There are usually perfectly reasonable explanations for unequal distributions but talking to beneficiaries before the gift is made can be difficult and may result in hurt feelings.
Write your Intentions
One way to explain your intentions to your beneficiaries without having to talk to them face to face is to leave an explanation in your estate plan. You can explain your decisions in as much detail as you think will help your beneficiaries understand and appreciate your distribution decisions.
Get Legal Help
Experienced Estate Planning Attorney Elga Goodman will help you create a plan that protects your assets, your goals, and your loved ones. Contact us today at 973-841-5111.