What might interfere most with your expectation as an adult child that mom and dad’s estate plan is going to leave you with “X” amount of money?
Your parent, nearing the end of his or her life, suddenly has a new love interest. The person is far younger than your parent, and you feel skeptical. That is confirmed when you meet the person and spend time with the two of them together. It seems clear to you that the younger person just found out about your parent's net worth and is attempting to work his or her way into the will.
Mum’s the word.
A financial writer notes in a recent article the business dimensions closely attached to any request made by an adult child for money from parents to fuel a commercial venture.
We noted what is a virtual truism in our immediately preceding blog post of July 10. We stated therein that, “Estate planners have always dealt with planning-related misconceptions, which abound in the general public.”
Some California individuals and families that contact experienced estate administration attorneys do so forearmed with a fair bit of relevant knowledge and an attendant appreciation concerning a need to timely act.
When you have several heirs and people who could potentially question your will, the best thing you can do is to create a strong estate plan and to discuss it with those who are to benefit from it. You may already understand that estate plans are there to provide guidance following your death, but you probably also realize that someone could question your ability to make sound decisions.