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June 29, 2011
Family inheritance is a prized possession that should be protected using estate planning strategies. Financial assets and valuable property can be transferred to direct lineage heirs and future generations through Wills and Trusts, as well as gifted on an annual basis.
Family inheritance is often a touchy subject, but it is important to openly discuss plans with family members prior to death. Many people feel there will be too much conflict if relatives know what they will receive ahead of time. The truth is family disputes over inheritance can be minimized by planning ahead.
Engaging in estate planning isn't difficult or expensive. All that is required is to take inventory of personal assets, financial portfolios, and titled property such as motor vehicles and real estate. Estate planners can advise whether estates can be sufficiently protected by a last will and testament or if a trust is better suited.
June 03, 2011
Protecting family inheritance should be a top priority regardless of owned assets. People often neglect entering into estate planning because they believe they don't own anything of value. Others procrastinate about the task and put it off for a rainy day. The problem is if you die without a last will and testament your family must endure the lengthy process of probate.
Family inheritance can be comprised of cash, personal property, titled property, and valuable assets such as heirloom jewelry or artwork. Regardless of what you own, it's important to establish a record of property and designate beneficiaries to receive items upon death.