If you’re planning to leave your heirs any sort of inheritance with your estate plan, you’re already giving them a valuable financial leg up. However, some assets make much better inheritances than others.
Streamlining your accounts and simplifying what you own at death can be helpful for your family, says Michael Romero, president of Argent Trust Oklahoma at Argent Financial Group. If you fail to do so, someone will be left taking care of the more complicated property when you die, and during a very emotional period, he says.
Neil V. Carbone, trusts and estates partner at Farrell Fritz in New York, also advises that “failing to look ahead can be especially harmful when it comes to estate planning," because most problems arise after you're no longer around to fix them.
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