Tuesday, June 28, 2022
Trillions of dollars are expected to transfer through generations in the upcoming decades, but not everyone will be pleased with their inheritance, as some assets are considered “better” than others. Cash is considered to be the easiest asset to value and divide. The following six assets are considered to be complicated:
- Potentially Valuable Collectibles
- Operating Business
- Vacation Properties
- Physical Property (especially with sentimental value)
Avoiding complications begins with a thoughtful estate plan that isn’t left to the last minute, which includes discussing the plan with beneficiaries. This can prevent arguments or unfulfilled wishes, and gives beneficiaries the opportunity to express that they might be uninterested in the property.
For more Information:
See David Rodeck, Elaine Silvestrini “Six of the Worst Assets to Inherit,” Kiplinger, May 11, 2022.
Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.