Families often have members that are willing to influence assets distribution for the sake of personal gains. These black sheep may be known or hidden from other members of the family. whether you are sure about a black sheep in your family or have doubts about one, this article is exclusively for you.
You are not Obliged to Divide your Assets Equally
Parents are, by no means, obliged to distribute assets equally among their children or other beneficiaries. You always have the option of disinheriting or unequally dividing assets keeping in view the circumstances at hand.
Whatever you decide, it is always better to explain everything unambiguously in your estate document. Or you can also make a separate document for further explanation.
Revise the Terms of your Estate Plan
Even if you had previously disinherited a beneficiary, you still got the option to change, provide incentives, or totally go in a positive direction.
Similar is the case with your other terms of the estate plan. They are capable of alteration based on your current relationship with your beneficiaries.
Plan the Things that Happen After you Die
Well, you can’t totally control what happens after your death, but you can undoubtedly make provisions to incentivize favorable behaviors.
For instance, you can create trusts for your beneficiaries that allow passing the assets after they have achieved a particular milestone. This way, you can influence the future even after you have become incapacitated or passed away.
Contact a Knowledgeable Attorney
If you sense a black sheep in your family or want to know more about this topic, a knowledgeable estate planning attorney will make sure to listen to your concerns. Contact Keystone Asset Protection and Estate Planning today and choose the best for yourself.