A time invariably comes when the conversation about inheritance needs to be had. While some conversations and situations may be hard and uncomfortable, they are necessary and life-changing. Inheritance issues may cause long-term suffering or family rifts if not handled well, or may be smooth sailing if organised in an orderly fashion.
The conversation is better had if you are the one steering it and directing the flow. Whilst you still have the time and the opportunity, consider taking time to sit with your partner and family to discuss how you want inheritance to be handled. Talk about the children – who will get what and how? Will you cater for your spouse’s children too in a blended family setup? Do you have any extra-marital children to prepare for? Are you aware that any legally adopted children are entitled to inheriting from you? Have you secured your children’s futures by electing a responsible guardian or custodian who will not plunder their inheritance? Did you know that even your adult children should be included and will also inherit as a child? All your children will be treated EQUALLY regardless of age, gender, and legitimacy.
Determine the outcome of the matter by staying in control of your wealth, its distribution, as well as the welfare of your children Do it whilst you still can. Think ahead to a time you may not see and #MakeAPlan.
This information is for general purposes only – seek advice from a Lawyer
