Inheritance of Property Without a Fight
Should you rely on “will power” to bequeath assets? Nope, the more complex your estate, the more ill-advised that choice becomes. Inheritance of Property is touchy, having only a will in place when you die may not be enough. Estate fights reduce inherited wealth for as many of 70% of families. Inheritance is no simple matter. In a simpler world, an individual with a $3 million estate could pass away and simply leave $1 million each to his or her children – enough said, over and done. But life isn’t so simple: one heir may deserve more money as a result of a disability or fate dealing out hardships, while another may truthfully deserve less due to his or her behavior, or his or her financial success.
Consider these Steps to Help Assets Transfer.
If you feel one heir should receive more of your estate than another, that wish needs to be articulated in your estate planning. Stating these wishes before you pass away (the why, the how, the how much) and letting your heirs know how you feel isn’t cruel – candor now is preferable to confusion and in-fighting later. Beyond money, what about possessions & real property? Homes, businesses, raw land, antiques, artwork, collectibles, heirlooms, and pets: your children and grandchildren may have different perceptions of their future value, and disagree on their destiny. Being clear about who is going to get what today (and why specific decisions are being made) may help defray potential legal challenges tomorrow. Consider leaving some things up to the kids. You could call in appraisers to set values for your real and personal property, make a list of those assets and their values, and subsequently allow your heirs to take turns choosing the possessions or properties they want to inherit. If a squabble breaks out between heirs over this or that item, you can settle it with a family auction – that item goes to the highest bidder when you pass away.
Here are Three options to consider to help you which your elder law specialist can help you with. Well if you don’t have an elder law attorney? We may be able to help you to find the right match.
Revocable Trust
Will
Living Will
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Diane Delaney, Placement Specialist Extraordinaire
Delaney is the founder of Golden Placement Services. She began this business with a healthy dose of compassion for helping families make educated decisions regarding senior placement. Focused to relieve stress in uncertain senior housing crucial moments. Diane brings about loving change of lifestyle with grace. Additionally, Diane is an accomplished executive manager, Director of Operations in senior housing. Emphatically, she enjoys sharing her experience by writing about the full spectrum of the transition process for seniors and family members. Read more from Senior Placement Specialist Diane: Ultimate Senior Living Resource Guide >>
LaVona Tomberlin, Senior Placement Specialist
Tomberlin brings a high level of education and experience to you as your Senior Placement Specialist at GPS. She loves writing about improving the lives of Elderly working in private care and in-home care for over 36 years. Geriatrics, Memory Care. Plus, she holds Master of Psychology Behavioral Health with the goal of advocating for those who needed a voice. Basically, LaVona believes helping the families to make good decisions and to relieve their stress in uncertain times makes life worthwhile!
Learn More: Read articles from Placement Specialist LaVona: End of Life Transition a heart felt Guide >>
Gwenn McNeal2023-03-09Golden Placement Services answered! It’s really difficult to have to place an aging parent into a facility, but our family knew it was time. So I did some research, called 15 facilities, and managed to get on one wait list. I also called two companies that assist with finding homes, and they said they could not help. We were concerned we wouldn’t find a place, and if we did, it could be a very poor choice for our dad. Then I was given Golden Placement Services phone number and I spoke with a lovely woman named LaVona. That’s when everything changed! LaVona listened to our family’s needs, was understanding, and within days, she had arranged places for us to visit. How she found them, I don’t know, but she did! She met us there, listened some more, answered questions, and offered sage advice. We will forever be grateful for Golden Placement Services help in making this very tough decision. We absolutely know that my dad is in the right place to spend the rest of his life. And, we wouldn’t have that assurance today, had we not been connected with their wonderful service! They have blessed us greatly and we are sharing their information with others we know who are going through the same process.
Maureen S.2022-10-18Our family is so grateful for Diane and her company. They have helped us, two times find placements for our family members. We are now working now to find a great situation for another elderly family member.. Best thing, THEY CARE about each client and their wellbeing... THANK YOU, Diane
Addison Inman2019-05-31What a great resource for seniors in this area. Great, honest work. Very knowledgeable.
Denise R2013-03-23They were very helpful and while being professional, kind and caring. They were thorough in trying to find the best arrangement for our situation and followed-up to make sure client's new arrangements were satisfactory. I highly recommend them.
