Talk inheritance with the kids

Talk inheritance with the kids

Teen family

When it comes to estate planning, both you and your children can often benefit from discussing how, when and why wealth is going to be transferred.

Once you’ve developed a well-drafted, comprehensive, and up-to-date estate plan, you may soon wonder when or if you should share the contents of your will or larger estate plan with your beneficiaries, especially your children.

There is no one right answer to that question. Legally, you’re never obligated to do so. Further, many estate practitioners would argue against letting them know.

A will has no force or effect until your death. So long as you have legal capacity, you are, with certain limited exceptions, free to change your will whenever you want. This is a strong argument in favour of keeping the contents of a will private.

CLICK HERE to read this full article from youradvisor.ca. It’s a good easy to read article that I’m sure you will find important. If you have any questions or comments, please be sure to contact Harry Perler or David Olejnik