Who gets your money when you die?
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An article in Forbes says the murkiest part of estate planning is discussing who gets what and when.
It says the process is emotional and involves a series of trade offs.
The article suggests using this list of questions to help you make your decisions:
- How much would you like to give to charity and how much to your family?
- Will you divide your assets equally among your heirs, or will you base the division on some other factors, like good behavior?
- Can your heirs handle managing the money?
- Will you give gifts now or after you die or both?
- What will you do with such things as art?
- How will you tell your plans to your heirs?
You need to think long and hard about these things before making your decisions. Of course, your estate planning attorney can help you with these issues.
If you have questions about estate planning, feel free to call us for a consultation at (626) 696-3145.
