Many people think that the act of writing someone out of their will is a sort of cruel betrayal, and perhaps a sign of a disharmonious family. But that's not always the case. People in Georgia disinherit their relatives for a variety of reasons. Some may feel as though one child needs more financial help than another, and so they choose to channel their assets to where they are most needed. Others may have had no relationship with one of their family members, and so wish to ensure that their assets are not given to a child or sibling that they never knew.
There are a number of steps in estate planning. These steps can vary, depending on the complexity and goals of the plan, as well as a number of other factors. Here we'll take a look at five specific steps, perhaps tips, in estate planning.
On this blog, we try to focus on estate planning and probate issues, but there are also issues that can come for those on the receiving end of an estate plan. One of them concerns how inheritors should use a windfall. For those receiving an inheritance, it isn't always as simple taking the money and enjoying it. The key is to handle the inheritance wisely, and make it contribute to one's financial well-being. For this reason, those who receive and inheritance need to develop a strategy.
In our previous post, we began discussing how parents looking at giving unequal inheritances to their children need to consider the possibility that such arrangements may cause problems later on when they're gone. As we mentioned, legal challenges to the validity of the will are always a possibility when a child feels he or she wasn't given what they feel you would have wanted them to receive.
A recent Wall Street Journal article took a look at the problem of unequal inheritance, and the risks it presents in regard to later legal challenges.