Most clients who come through my doors interested in estate planning want to maintain control of their assets as long as possible.
As an extension of that control, most clients keep their children “in the dark” about the nature of their estate, including their plans for leaving an inheritance upon their passing. Since only they know their true worth, clients feel they retain all control.
However, what many clients don’t realize is that by keeping their loved ones “in the dark,” they may be setting up their loved ones for surprise consequences when they actually do receive an inheritance. Without sharing your estate information, you could be leaving your loved ones in a position where they are planning their futures without adequate information, and as a result they may fail to make proper plans for their own estate matters.
Proper inheritance planning, on the flip side, may only be done if your loved ones have knowledge of what to expect from their inheritance, so they can have a “game plan” in place before their inheritance becomes a reality.
To learn more about how you may be able to better position your loved ones for their inheritance through knowledgeable planning, read this article.