Escobar & Associates
813.875.5100
Speak to an attorney 24 hours a day free consultations

Is an inheritance for the children part of your estate planning?

Estate planning is complicated, and it may be hard to determine how to properly divide an estate. While not every Nevada family can afford to leave an inheritance for their children, this is an important priority for many families. It is estimated that only approximately 60 percent of people plan on leaving an inheritance as part of their estate planning.

Each person or family may have a different approach for retirement and how to spend the money that they have saved for this period in life. Many people either cannot afford to leave anything behind or will likely spend everything that they have saved. Some Nevada families may be wondering how to leave an inheritance or if they should even bother leaving something behind for the children.

Because of the tax structure in the United States and how the wealthy are taxed, it may be difficult to accumulate large amounts of wealth. While this may deter some people from trying to set aside a fund for their children, many parents feel that their children and grandchildren cannot get ahead without a financial gift from family members. No matter what the decision of a family may be regarding leaving an inheritance, it is important to understand the tax and financial implications of this decision.

Estate planning should be carefully considered and all of the options thoughtfully weighed. For those who do wish to leave an inheritance for their children, it is important to understand where to put the money and how to start saving. This may be different for each family based on the details of the individual situation.

Source: Forbes, Why Bother Leaving an Inheritance for the Kids?, Larry Light, Feb. 27, 2014

No Comments

Leave a comment
Comment Information
  • Martindale-Hubbell | Top rated lawyer in Tampa | Richard Escobar | For Ethical Standards and Legal Ability | Martindale-Hubbell Top rated lawyer
  • Top Lawyers 2016 | Richard Escobar
  • Top Lawyers 2016 | Dino Michaels
  • Highest Possible Rating in Both Legal Ability & Ethical Standards | AV |AV Preeminent | Richard Escobar | 2016
  • Judicial Education | AV | AV Preeminent | Richard Escobar | 2016
  • CLIENT | DISTINCTION AWARD | Dino mike Michaels, Esq. | Recognized for Excellence | Quality of Service | Overall Value | Responsiveness | Communication Ability
  • 15 | YEAR | Anniversary | Proudly Serving | the Community | Since 2001 | Dino Mike Michaels

Office Location

Escobar & Associates
2917 W. Kennedy Boulevard
Suite 100
Tampa, FL 33609

Phone: 813-513-0274
Fax: 813.877.6590
Tampa Law Office Map