The Flanigan Law Group, A Professional Corporation
Call Our Irvine Office Today
Click Here To Call Now
Local: 949-450-0041
Toll Free: 800-732-2413

Three things to consider when planning inheritances

It is estimated that baby boomer parents in the United States will transfer more than $30 trillion to their children over the next 30 to 40 years. While the economy will have a lot to do with whether that number rises or falls, distributing it, especially if there are multiple children poised to be beneficiaries, may be difficult.

If you want to ease the headaches about what to do with what you are leaving to your beneficiaries, the following tips can help. 

Have open communication – Most children have an idea of what their parents are worth, and how much they stand to earn when their parents pass away. However, this perception may be considerably off. So having a dialogue about what a child’s inheritance may be could help in easing your concerns about how to distribute it.

Be as equal as you can – Simply put, it is less likely that children will fight and hold things against each other if they are going to get exactly the same amount in their inheritance. Also, no one will have hard feelings since they are each getting the same thing, regardless of the amount.

Use a trust – Distributing a child’s inheritance ostensibly takes the pressure off of a parent. The trustee would be responsible for monitoring the funds and ensuring that distributions are made according to the parent’s wishes. This is especially important if the child inheriting the money is under 18.

If you have questions about how to structure your estate plan, an experienced attorney can help. 

No Comments

Leave a comment
Comment Information

Learn How We Can
Help You

Send Us An Email

How May We Help You?Send Us An Email

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

15615 Alton Parkway
Suite 450
Irvine, CA 92618

Toll Free: 800-732-2413
Fax: 949-271-6346
Map & Directions