All parents know that not all of their children are the same. Some children just need more care and support than other children. Most parents do not try to treat their children the same. Instead, parents try to treat their children equitably. When it comes to estate planning, this often means that one child receives a larger share of the estate than another child. This can create problems between the children if the parents do not handle the situation appropriately. In some cases, it is easy to … [Read more...]
Leaving An Inheritance to a Minor? Plan Carefully.
A lot of people don’t realize that children who inherit money aren’t allowed to take control of the money until they reach legal adulthood. If money or other property is left outright to a minor, then the court gets involved and the money is either placed in a restricted account, or a special guardian is appointed to manage the property on the minor’s behalf. If there’s a chance that one of the people you’re leaving property to might be a minor when the transfer happens, proper planning can … [Read more...]
