What If Your Kids Don’t Want Your Treasures?

There may be items in your home that have great sentimental value to you.  However, they may become an annoyance to your children.

While many items in your house are precious to you, it is possible that inheriting such things becomes a burden for the children who have to take the time and effort to sell them for little monetary gain. This and other items children do not want to inherit, were recently discussed by Market Watch in “10 things your kids don’t want to inherit.”

The exact list of such items is not as important as understanding that every child is different. Some children might like to inherit something on the list, even though most would not. The best thing is to ask your children about whether they want to receive items of personal property after you pass away. In the absence of doing that and getting a straight answer, think about whether the items have monetary value, whether the child has ever shown true interest in them and whether the child has similar tastes.

If parents take the time to think about what personal property their children would and would not like to receive as an inheritance, they can often make handling the estate much easier for their children.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances and may include many items of personal value.

Reference: Market Watch (March 17, 2018) “10 things your kids don’t want to inherit.”