Estates come in all sizes and values, and ALL of them need well-documented estate plans in place so that the right recipients receive the items you intend, whether it’s granddad’s antique lawnmower or a large stock account.
“But He Told Me ….”
You would be surprised by the family squabbles that can occur when someone’s estate plan is not well-documented through a will or trust. Just telling a family member that you plan to leave them a particular item isn’t enough. Families can get into a “he told me…” he said/she said standoff, and you’re not there to settle the issue. Avoid family controversy which could lead to years of animosity.
And if you are downsizing or moving, it’s a great opportunity to share family memorabilia – whether it is coin or stamp collections, gun collections, photos, or vintage 1950s kitchen chairs.
Thank Yous Are Nice to Hear
Even better, if you give family memorabilia while you’re still around, you get the satisfaction of hearing the recipients’ delight in being remembered and knowing the items went to the right persons.
Read this article from Birmingham Christian Family magazine, August 2018 edition, and give some careful thought to your estate – whether it’s small or gigantic – and how you want it handled.