One problem that we see frequently is families who have children (or other potential beneficiaries) who have an issue with addiction, or suffer from extreme irresponsibility, lack of financial discipline, or severe laziness. The point is that most families have at least one of these issues when considering their Estate Plan and how to not only pass their property but also who to charge with the task of handling their estate when they pass away.

For purposes of estate planning, understanding that all of the issues above typically result in the same general dilemma for the parents: the difficult question of how to deal with their estate planning. Typically, parents/grandparents want to provide a legacy for their family, provide adequately for their loved ones, but not harm them. The prospect of gifting any significant amount of money or assets to a family member who can’t handle it brings uneasiness to many people considering creating an Estate Plan and how to best address their property distribution upon passing away.   

Fortunately, estate planning attorneys have options to help families that struggle with these situations. There are various methods of passing on your property that you have spent a lifetime establishing, without harming your loved ones. Ways to accomplish this goal include but are not limited to utilizing trusts to provide gifts that can be overseen by a trustee, working with other reliable family members, or requiring that certain conditions are met by beneficiaries in order to inherit.

Key Point: There are Options. And an experience estate planning attorney can help you explore those options and create an Estate Plan that is customized to meet your needs and goals.

There is no need to avoid having your estate plan completed because you are worried about this kind of situation. If you are in a family that struggles with this kind of issue and need help completing your Estate Plan, call us today. At Weldy Law, PLLC, we are experienced in planning and can guide you through a simple, cost-effective process to resolve these issues. 

The above blog is for informational purposes only and is not legal advice nor does any information or communication with this website create an attorney-client relationship.