Hilary Dudley, managing director of Citadel Fiduciary says,"Many of life's circumstances may require more sophisticated levels of estate planning.She says divorcees must remember to update their wills and remove any inheritance to their ex-spouse within three months of getting divorced; otherwise they will inherit.
We probably don't think about it as we should, but drafting a will, in a way, equates to resting in peace. To avoid family or business partner drama, making this decision while alive and leading from the grave is better. Hilary Dudley, managing director of Citadel Fiduciary, says,"Many of life's circumstances may require more sophisticated levels of estate planning that is both organic and adapts to changing circumstances and complexities in the family." It's essential to consider your life partner – whether you are legally married. If you are legally married, you have various legal support and maintenance duties.
Professional help is essential to plan for and manage the inheritance of special needs heirs or heirs who suffer from addiction issues or cannot manage their money. It's important to plan if you might inherit from a parent. Ask them to place your inheritance in your family trust. Vice versa, if your children have their own family trust, consider bequeathing their inheritance to their trust.
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