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How to best pass an inheritance to children

On Behalf of | Dec 23, 2022 | Estate Planning |

One of the primary concerns for most Florida parents is ensuring that their children have what they need in the future. Parents can address this need through the terms of their estate plan, passing along assets to their heirs and beneficiaries in their will or by establishing a trust. There are various options available, and the right way to pass along an inheritance depends on the details of the individual situation, the relationship between the parents and the child and much more. 

Different scenarios require different solutions 

To decide on the best way to leave an inheritance, it is beneficial to look at possible long-term implications for all decisions. For example, if an adult child lives with his or her parents and acts as a caregiver, they may want to give the house to that child after they pass. However, if an adult child has special needs, there are specific and effective ways that will allow a parent to set aside assets for the benefit of that family member. 

Another factor that could affect how parents leave an inheritance to their children is wealth disparity among their kids. They may want to distribute their estate evenly, or they may want to give more to a child who does not have the resources of his or her siblings. Regardless of the motivation behind the decisions, it is important to communicate intentions clearly. 

The best choices for an individual family 

There is no one-size-fits-all solution to estate planning. A Florida adult will benefit from seeking the guidance of an experienced estate law attorney to understand the options available to him or her. An evaluation of the estate and discussion of goals will determine the best way to leave an inheritance for children. 


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