Transferring monetary assets to your family members is clearly going to be a large part of your estate planning. But at the same time, you will have a lot of personal possessions as well and you have to ask yourself what you want to do with them.
This is one reason estate planning attorneys suggest that all responsible adults plan ahead comprehensively. Even if you have a basic estate plan in place, depending on the dynamic of your family your personal possessions could simply be rounded up and auctioned off to the highest bidder.
But some of these sentimental items may be priceless to certain family members. The embodied memories that you leave behind in the form of your personal property can mean more than money to your loved ones.
Most families have some heirlooms that have been around for generations, and people make new memories every day and create the mementos and heirlooms of the future. Keeping this in mind when you inventory your resources so you can make the most of your legacy.
This is just one of the many things to take into account when you are looking ahead to the future. To devise a holistic plan for aging, the first step is to sit down and discuss your intentions with a seasoned northern Kentucky estate planning lawyer.
John’s practice focuses on the use of Wills and Living Trusts in Estate Planning to help individuals protect their families and preserve their legacies after their deaths, but his practice also focuses on the critical issues of protecting individuals with dementia or other diminished capacity, assisting individuals in qualifying for Medicaid and other government benefits to offset the costs of long-term care, and providing special needs planning.
John is admitted to practice law in North Carolina, South Carolina, Kentucky, and Ohio, and he is accredited by the Department of Veterans Affairs.
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