When it comes to leaving money to the kids, some parents struggle to reconcile “equal” with “fair.” An equal inheritance treats each child the same, regardless of life situation or special circumstances. On the other hand, sometimes an unequal distribution can seem like the fairest thing to do, ... Read More
Inheritance
How Much to Leave Your Children?
There are two schools of thought for parents to wrestle with, when deciding how large of an inheritance they should leave for their children. In a typical American family, the expectation has always been that when the parents pass away, everything they have left will be inherited by their children. ... Read More
Millennial Inheritance Expectations
Baby Boomer parents with millennial children should talk to their children about their inheritances. The millennials might be counting on larger inheritances than they will actually receive. Sometimes differences between generations are greatly overblown. Small differences in the percentage of ... Read More
How to Blow a Big Inheritance
It is often noted that great family wealth has a tendency to disappear after a generation or two. That is because the same mistakes in handling that wealth are made over and over again. There is little doubt that an ever increasing amount of America's total wealth is being concentrated in fewer and ... Read More
Signing an Inheritance Away. It Happens
It is every parent's worst fear. A child will agree to give away their inheritance for far less than it is worth for quick money. Recently, MarketWatch published an advice column with the following question as its title: "My drug-addicted friend signed away his $800,000 inheritance to his brother ... Read More
How to Make Sure Your Beneficiaries Don’t Waste Their Inheritance
You’ve spent years accumulating your wealth through hard work and discipline. Now you’re ready to share this great accomplishment with loved ones. Only one potential problem stands in your way – frivolous spending. So what can you do to protect your beneficiaries from themselves? Lucky for ... Read More
WARNING: Be Careful with Inherited IRAs
If you have recently inherited an IRA, or if you expect to inherit an IRA, it’s important to speak to an estate planner or other advisor right away before you make any decisions about the account. And if you’re planning to leave someone an IRA, you’ll want to make sure that person knows what to do, ... Read More
Handling Your Inheritance
If you receive a large inheritance it is important to plan how to use it wisely and make it last. Most people need some help to do that. Receiving a large inheritance can be a life-changing event both in a good way and in a bad way. It can be great if you use the inheritance to give yourself and ... Read More
Simmons & Schiavo, LLP
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