14 Ridgedale Avenue, Suite 254
Cedar Knolls, NJ 07927

Planning Your Children’s Inheritance

Make a Specific Plan for Your Children’s Inheritance

When you work with an estate planning attorney, you can create a specific plan to leave your children their inheritance in a way that incorporates your values.  Before meeting with an attorney you and  your spouse should consider the following:

  • How much money will be available to your children?
    • Real Estate
    • Life insurance proceeds
    • Pensions
    • Stocks/retirement Funds, etc.
  • How much money should a guardian spend caring for your children?
    • What kind of lifestyle do you want them to have?
    • Private schools and travel to Europe?
    • Public schools and learning the value of money by working part-time?
  • At what ages do you want your children to receive money?
    • Do you want your children to get all the money at age 18?
    • Do you want a third of the money to be given at age 22, a third at age 30 and the rest at age 40? Or any combination of percentages and ages…
  • Do you want to set aside money for specific purposes?

College? Buying a first home? A wedding? Starting a business?

Getting Legal Help

Experienced estate planning attorney Elga Goodman can help you take an inventory of all your goals and make a plan that incorporates your values for your family and for possible changes in the future.  Call us today at 973-841-5111.

Posted in: Estate Planning, New York Estate Planning