The idea was to pass on wealth to the next generation and this notion became a focus of her expected will and estate plan. When the estate plan became part of a family discussion ideas emerged causing her to reconsider. • Second, a parent’s perspective can be miles away from what the children expect or what they hope for. Without a plan in advance or extreme cooperation among families willing to share a vacation property and to share expenses many times the vacation property can be lost. • Fourth, estate planning often takes more than neatly dividing the assets into equal shares based on the number of beneficiaries.

Source: Washington Post January 24, 2024 12:59 UTC