Dear Amy: Neither my wife nor I came from money. But thanks to a lot of hard work – and luck – our children will come into money.
Both of our kids are grown, married to terrific partners, and on good career paths. My wife and I are in our late 60s and in good health and we’re thinking about giving them a full picture of the extent of the potential estate when we’re all together at the holidays.As the Canadian national soccer teams head to their respective FIFA World Cups, Derek Van Diest is on the scene to cover all the action.
There’s no mystery to our wills. My wife and I each leave our estate to the other upon either of our deaths, and the remainder equally to each child once the surviving spouse dies. The amount is quite substantial now and likely to be more as time goes on.Article contentI don’t see any reason to have any mystery. I’d like to make it simple for them to sort things out when the time comes. Plus, it would help in their own financial planning.
Again – in my opinion – you should consider ways to disperse some of your estate before you die, perhaps through purchasing or helping them to purchase homes, and establishing college funds for their children.
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