Hey, I understand that estate planning is not the most exciting thing for most people to consider, but in the end it will save your loved ones a lot of headaches and money. Here are some things to consider when planning for heirs.
- How should each bequest be divided? Equally or unequally?
- Are your heirs minors and if so at what age will each heir inherit?
- How do you want to distribute indivisible property, such as a house or a family ring?
- Will you disinherit any heirs?
- What should you do if when spouses have children from other marriages?
- Do you have an heir who is reckless and might spend their inheritance with abandon?
- Do you have an heir with mentally or physically disabled?
- Do you have a specific goal for your heir’s inheritance…like paying for college or a first home?
- What will happen if your heirs die before you pass away?
- Are there any special gifts (family heirloom or memento) that you would like to go to a specific individual or charity?
Those of us close to the Crandall Canyon mine disaster in Utah would add: make your will. Now.
Posted by: Angie Hartford | August 25, 2007 at 10:52 PM