If you leave them a large inheritance, can they handle it?
This goal of determining the correct amount of an inheritance that will help your children yet not hinder them in creating their own careers is a challenge, according to the Wills, Trusts & Estates Prof Blog in "New Focus for Estate Planning."
The key to resolving this tension is to understand that estate planning can be about more than just transferring a lot of assets to heirs. With a traditional will, heirs get all of the assets at once, which does leave open the possibility that assets will be misused.
There are many kinds of available estate planning tools that can be used to make sure that heirs do not waste everything.
Many types of trusts will help preserve the assets.
An estate planning attorney can guide you in creating the estate plan that fits your unique circumstances, and is in the best interest of the heirs. Call (443) 470-3599 today and schedule a consultation with Maryland Attorney Britt L. Stouffer to learn more about Estate or Elder Law and how she can help you.
Reference: Wills, Trusts & Estates Prof Blog (May 17, 2017) "New Focus for Estate Planning."
