Inheritance Planning

Inheritance Planning: Do you think your heirs have the same plan for your belongings as you do? Many people assume too much.

Inheritance planning is one of the most overlooked parts of financial planning. Far too many of us are passive when it comes to planning for the passing of our estates. With over 27 years of experience working with individuals and their families, we have seen what can go wrong with the passing of wealth or an estate, and have learned how to try to avoid these issues. One of the more practical ways of helping families is to coach and teach the family representatives who will likely help mom and dad in the event of incapacity but also may be the ones settling the estate someday. Let us encourage you so the inheritance which your heirs receive is a blessing and not a curse.

Peter McClellan, President of the 401k Latte Company, has written a book called Inheritance Tug-Of-War Stories to help families avoid the potential pitfalls inherent in the passing of an estate to the coming generation.  An ugly “gimme, gimme” spirit tends to permanently divide families. Inheritance intended as a blessing can become a curse if we are too passive about leading our families towards unity.