Published on Kiplinger
By David Rodeck on August 16th, 2024
Leaving these assets to your loved ones may be more trouble than it’s worth. Here’s how to avoid adding to their grief after you’re gone.
Certain assets can cause arguments between family members or may have hidden costs. And sometimes, let’s face it, your kids just don’t want your stuff. With thoughtful estate planning, however, you can prevent these issues from happening.
Here are six of the worst assets to inherit and what you can do to help manage them before you are gone. Read on for advice on how to make sure your estate doesn’t add to your heirs’ grief and what to do if you inherit something you don’t want.
The best advice I can give is for the owners of any property they might want to pass on to their heirs is to have an honest conversation about it first. Many times, the heirs will express that they simply don’t want the property and in those cases, the owner should sell it while they are still alive.
T. Eric Reich, President, Reich Asset Management
