When creating an estate plan, dividing your assets can be very difficult. You are more than likely trying to figure out how to allocate your possessions in a way that will not create tension between your family members after you are gone.
Although cash is usually easy to divide, tangible things like jewelry and heirlooms will not be as easy to divvy up. You may also have items that hold sentimental value that multiple family members are hoping to have. Many a family fight has been centered around these types of objects.
You should make it very clear who you choose and why you have chosen them.
Below are a few steps to help you along the way:
- List the most important or valuable items in your will
- Direct that certain items be sold
- Give some items away now
- Get an appraisal
- Use a letter
If you make these decisions instead of leaving them in the hands of your family, the process will be much smoother.
Call the Law Offices of Debra G. Simms at 386.256.4882 to learn more. We are currently offering free consultations via video conference to assist you with your needs.
This blog post is not case-specific and is provided only for educational purposes and is not intended to provide specific legal advice. Blog topics may or may not be updated and entries may be out-of-date at the time you view them.