Estate Planning Red Flag – You’ve left specific assets to specific heirs

Description

Abstract: When creating an estate plan, it may be tempting to leave specific assets to specific loved ones. Perhaps a person wants to give a child the family home or a stock that has sentimental and financial value. Unfortunately, by doing so the person risks inadvertently disinheriting other family members, even if he or she had gone out of the way to ensure that they’re treated fairly. This brief article explains the pitfalls of leaving specific assets to specific family members.