Archives for: Inheritances

Americans Leave Smaller Inheritances Than Others

Even though America is a land of economic prosperity, our aging population lags behind elders in other countries when it comes to inheritances. Most Americans intend to leave behind about $177,000 for beneficiaries and others who would inherit property; compared to several other nations, that is a pittance. In fact, Floridians might marvel at the idea that most Australians plan to leave $502,000 to their heirs. So, what is the difference between us and them? Experts say that a variety of social factors could be leading to lower inheritances. Those factors include estate tax and the growing cost of medical care in the United States.

Residents of five countries were more likely to leave high [..]

Keeping Your Kids From Overspending Their Inheritance

You have saved up a significant amount of money for your Florida heirs, but you are concerned about their ability to spend their money wisely. For those who stand to inherit property, good financial foresight is a must. That is why about one in three benefactors is drafting an estate plan that will reduce the likelihood of financial mismanagement by their beneficiaries. Benefactors who want to make sure that their estate is handled wisely can take some early action to guarantee success.

First, be sure to communicate your inheritance plan to your beneficiaries. The first time your child or heir learns about an inheritance should not be at the reading of your will; rather, this [..]