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Augulis 12.3.12 Consider Circumstances of Each Inheritance Recipient by AugulisLawNJ


									Consider Circumstances of Each Inheritance Recipient

Each person that you are going to be giving an inheritance to is a unique individual. We all have our
different strengths and weaknesses, and some of us live our lives under special circumstances.

With this in mind it is important to discuss vehicles of asset transfer with a good estate planning lawyer
when you are making preparations for the future.

It is likely that you will have older, established relatives on your inheritance list. You may have
absolutely no reservations about giving these family members direct inheritances knowing full well that
they will be able to handle the assets appropriately.

On the other hand, some people are not yet established. And there are also those who may have reached
the age of maturity who have nonetheless demonstrated poor money management skills.

You can set aside resources for the well-being of younger heirs and/or those who could be described as
spendthrifts with certain controls that protect them from their own potentially poor decisions.

Another thing to consider is special needs planning. If you have someone in the family who has a
disability you have to be careful about how you provide for this individual. Many people with special
needs rely on government benefits, and a direct inheritance could jeopardize benefit eligibility.

Most laypeople are not going to know exactly how to proceed given these differing sets of
circumstance. The intelligent course of action is to sit down with a good estate planning attorney and
explain every nuance of your family dynamic.

Your attorney will gain an understanding of your situation, listen as you explain your intentions, and
assist you as you put together the plan that is ideal for you and your family.

Experienced estate planning attorneys Warren NJ of the Augulis Law Firm offers estate planning and
business planning resources to residents of Warren, NJ. To learn more about these free resources, please
visit today.

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