It's hard for a lot of parents to talk about their own deaths, especially with their own children. Death is so final and if you're like a lot of our Melbourne readers, there are still probably a lot of things that you want to do before you kick the proverbial bucket.
But for some people, what's worse than talking about their own demise with their children is talking about their wealth and what they will leave behind in their estate. A lot of people consider money to be a private matter -- a topic only reserved for serious and specific conversations. But when it comes to your estate plan, there is no better time than now to talk about your children's inheritance and a lawyer can help.
Whether your estate is large or small, you probably want to leave it to your children in a way that suits their best interests. If you're wealthy but want your children to grow up learning what it's like to earn an honest living, then you may want to establish a trust for their inheritance. If you're not exceedingly well off but are still leaving behind a substantial estate, you may have questions about estate taxes and how they could affect the amount you leave behind.
As we said above, seeking legal services, such as those found here at Frese Hansen, can help because an attorney not only understands the applicable state laws but he or she will be able to explain how they will affect you and your loved ones as well. They can help you avoid costly mistakes -- the ones you might make if you don't have legal representation.
Here at Frese Hansen, we have extensive experience handling cases that involve a wide variety of estate planning issues, including what to do with an inheritance. It's because of this experience that we are confident we can help you find the best solution for your situation in the end.