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Protecting your future: Inheritance can come with unintended consequences

| Apr 20, 2013 | Blog Posts |

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Some people might want to avoid difficult conversations about inheritances by keeping silent and allowing family members to find out facts only when the estate is settled. However, waiting until the end opens the door to potential feuding and costly legal challenges.

The goal of proper planning is to make transfers as seamless and efficient as possible. Meeting that goal requires others to know what to expect when the time comes.The article titled “Protecting your future: Inheritance can come with unintended consequences” by Bonnie Kraham, an elder law estate planning attorney in Wallkill, NY talks about how sometimes an inheritance can be unwelcomed, in which case the recipient can file a legal “disclaimer” (a legal form of saying “no” to avoid or reduce state estate taxes.Failing to follow the rules properly can lead to many complications. If you are concerned that someone may want to disclaim their inheritance from you, or if you need to disclaim an inheritance, I’m available to answer questions and to meet with you.

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