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Posts Tagged ‘Wills’

heirlooms

Passing on Heirlooms in Your Will without Fracturing your Family

We all know of people who had a falling out within their family over an inheritance. It is not only those with vast wealth who risk this. Sometimes families will fight over the simplest of bequests, especially one-of-a-kind family heirlooms. For this reason, it’s vital that we make plans for these bequests before our health declines so that our family will stay intact after we are gone.

This benefits our heirs financially as well as emotionally. They keep their relationships with siblings and children intact while they avoid costly legal battles. A few simple steps on your part will go a long way toward protecting those you hold most dear.

Teapot or Tesla?

Before you can plan your bequests, you need to know what people want. If you are a sharing family, then it may be easy. If not, this may be a major hurdle you will need to overcome so that your heirs don’t fight among themselves after you’re gone.

If you know your family members well, you’ll know who are the sentimental ones – those who would choose a chipped teapot that belonged to a great-great-grandmother over something of monetary value. You’ll also know the ones who are adding up each item’s dollar value and can tell you which items are worth what down to the penny.

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