Are you leaving an inheritance to your loved ones?
If so, you may want to prepare them.
First of all, let them know what’s in your estate plan - your will, living trust, or other legal documents you’ve created.
This can help avoid unpleasant surprises, and possibly reduce disputes when it’s time to settle your estate.
You’ll also want to make sure that your heirs have the capability, perhaps with existing investment accounts, to easily accept assets such as stocks.
And you may want to bring in your tax advisor to help explain possible estate, inheritance, and income tax consequences.
One last point: If you still carry a mortgage and you are planning on leaving your house to your heirs, they may want to be prepared to act quickly to sell it.
When leaving an inheritance, there’s a lot involved - emotionally, financially, and legally.
So, do whatever you can to make the entire process as easy as possible for your loved ones.
Edward Jones, its employees, and financial advisors are not estate planners and cannot provide tax or legal advice.
You should consult your estate-planning attorney or qualified tax advisor regarding your situation.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson and Hawes Dickerson. Members SIPC.
