[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.amorusolaw.com\/blog\/inheritance-planning-for-heirs-rye-brook-ny-and-greenwich-ct\/#BlogPosting","mainEntityOfPage":"https:\/\/www.amorusolaw.com\/blog\/inheritance-planning-for-heirs-rye-brook-ny-and-greenwich-ct\/","headline":"Inheritance Planning For Heirs","name":"Inheritance Planning For Heirs","description":"Take steps to ensure that the money you inherit will last and help you meet your major financial objectives. Inheritance planning involves several tough decisions for the “giver” in the equation. Who shall get an inheritance? How much should be given? Lots of thought goes into this area of estate planning. But what about the […]","datePublished":"2013-09-18","dateModified":"2024-04-03","author":{"@type":"Person","@id":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/#Person","name":"Amoruso & Amoruso LLP","url":"https:\/\/www.amorusolaw.com\/blog\/author\/amorusolaw\/","identifier":5,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12de032c04195e9c39a06a6d6eea182f7b4fa655c20e245f8094a244b5cdd0cb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Amoruso & Amoruso LLP","logo":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/07\/amoruso-logo.svg","width":0,"height":0}},"image":{"@type":"ImageObject","@id":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b019aff5da8ff.jpg","url":"https:\/\/www.amorusolaw.com\/wp-content\/uploads\/2023\/04\/6a01901dd0a082970b019aff5da8ff.jpg","height":566,"width":849},"url":"https:\/\/www.amorusolaw.com\/blog\/inheritance-planning-for-heirs-rye-brook-ny-and-greenwich-ct\/","about":["Estate Planning","Inheritance"],"wordCount":289,"keywords":["Estate Plan","Financial Plan","Inheritance"],"articleBody":"Take steps to ensure that the money you inherit will last and help you meet your major financial objectives.Inheritance planning involves several tough decisions for the “giver” in the equation. Who shall get an inheritance? How much should be given? Lots of thought goes into this area of estate planning. But what about the heirs? Do they need a form of inheritance planning too? Are they ready to be “receivers”?Anyone can spend a buck and a few can spend wisely. Nevertheless, only a few will have the forethought to plan and make the most of an inheritance.If an inheritance may be in your future, then you ought to read a recent Morningstar article titled \u201cHow to Plan for an Inheritance: 6 Things You Need to Know.\u201dAs the title suggests, there are six things you need to know according to Morningstar to make the most of the opportunity. While the original article goes into more depth, here are the six things for you to ponder:What kind of assets will you receive?How will the assets be distributed?Have you done your own financial planning first?When you get the money, what are your priorities?What are your obligations?Is the inheritance transparent?You can plan entirely on your own assumptions, but that can be a tricky way to plan. This is where communication is key \u2013 intergenerational communication.It is a wise estate planner who educates prospective inheritors regarding these \u201c6 things\u201d identified by Morningstar and likely even more. In the end, planning for the transfer of an inheritance can be a family activity with one generation giving to and guiding the next generation.Reference: Morningstar (August 30, 2013) \u201cHow to Plan for an Inheritance: 6 Things You Need to Know\u201d"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/www.amorusolaw.com\/blog\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Inheritance Planning For Heirs","item":"https:\/\/www.amorusolaw.com\/blog\/inheritance-planning-for-heirs-rye-brook-ny-and-greenwich-ct\/#breadcrumbitem"}]}]