There have been instances when surviving family members have become estranged over possession of certain items left behind by a relative. As we all know, there are those who have battled over money, but we are talking about something else here.
Most of us own certain family heirlooms, or simple items that are not necessarily of any particular monetary value. They can, however, mean a lot to individual family members. In fact, they are the source of family disputes in a significant number of our estate settlement engagements.
Taking the time to consider this when you are planning your estate can go a long way toward preventing any potential acrimony among the loved ones that you will be leaving behind. This in itself is motivation enough to give this matter serious consideration.
In addition to this, we all know how moving it can be to receive a heartfelt gift with a note attached. In a very real sense, the distribution of the assets that comprise your estate is going to be your final act of gift giving. In most cases, the emotional ramifications of such a gift are naturally more profound than the gifts that you have given throughout your life.
If you were to carefully consider the emotional impact that giving such a gift could have on your individual heirs, you may find the exercise to be quite rewarding.
Once you know how you would like to proceed you must take action to make it happen. The way that this is done is by executing the appropriate legal documents with the benefit of expert advice.
Should you be interested in discussing your intentions with a professional, take action right now to arrange for a consultation with a seasoned and savvy Oklahoma City estate planning lawyer.
Larry Parman
Author, President and Founding Attorney
Parman & Easterday
- Understanding IRA Inheritance Planning: Key Considerations - September 14, 2023
- Irrevocable Trust Decanting Provides Flexibility - September 12, 2023
- Inheritance Planning Solution for a Spendthrift Heir - September 7, 2023
