View Single Post
Seahawk Seahawk is offline
Registered
 
Seahawk's Avatar
 
Join Date: Jul 2004
Location: Maryland
Posts: 31,804
No family dynamic occasions more turmoil than inheritance, even in modest estates...like many here, I have seen the worst.

If the siblings are so inclined, there will never be "equal shares": someone will feel slighted, the Will will miss a terribly important emotional attachment never before revealed by a child...the less successful of the children will bemoan the equal shares, citing need the others do not have.

There is no right way if the family is so inclined.

My Father and I have had this discussion since I am the Executor of his Will. He is a bit worried of a repeat from the odd days after my Mother passed away when, as he put's it, the "Tomb Raiders" showed up.

Your friends are young, BTW, and are still a couple...they need to make sure that the first wicket, Estate Planning, takes care of their shared assets should one pass before the other and second, the death of them both.

They need to make sure that each of them is protected should the other pass first. This is key. Make sure there are no dangling legal, ethical or other modifiers (insurance) that affect each other.

In our Will, the surviving spouse gets everything, which I recommend. I will say our lives are not complicated by ex'es and children from other marriages, etc., plus both our names are on everything.

The next level is up to them.
__________________
1996 FJ80.
Old 06-02-2011, 10:38 AM
  Pelican Parts Catalog | Tech Articles | Promos & Specials    Reply With Quote #19 (permalink)