How Do I Break the News to My Kids That I’m Not Planning to Pass On Assets to Them?
Deciding to disinherit someone in your family is fraught with emotional considerations and concerns. Wondering whether or not you should inform the family member about your intention to exclude them from your estate planning can be a very difficult question to answer and one that you should discuss directly with your estate planning lawyer.
An estate planning attorney can help you put together the relevant
strategies and tools to ensure that your estate planning goals are
accomplished. In the event that you decide to inform your children that they
are not receiving an inheritance, this conversation should be handled with
care.
One common reason to decide not to pass on an inheritance to your
children is because you believe that your money could serve a bigger and better
purpose in your community. This doesn’t necessarily mean, however, that your
loved ones will understand this decision that you have made.