- By Tim Berry
- June 27, 2016
- Comments Off
The estate planning law is very flexible and allows you to plan your property and money as you wish for the time when you pass away.
What you leave to your children is subject to many discussions. If you are one of those people who do not worry about what they leave just because they do not own so much, you probably do not need to do anything. But if you are a middle-class parent, you should think of how your children will dispose of the property you leave to them.
You may think that they could spend the money on gambling and drugs, or make some bad financial decisions and lose everything, or just be manipulated by their spouses. Some people who think this way may want to just cut out such problem children entirely. However, there are ways to distribute the money gradually, so that it is used wisely.
The alternative of disinheriting an adult child entirely is also possible. You cannot disinherit a minor child, because younger children are entitled to a part of their parents’ estate. To disinherit an adult child, the estate planning law only requires you to make a clear statement in the will, mentioning that you have nothing to leave to that child.
Look at this site for more information.