Build Flexibility Into Your Plans Inheritance Amounts

Rather than state a specific amount, you may wish to state a percentage of your estate. For example, if you havefour beneficiaries and would like to divide $100,000, instead of stating explicitly that you want each person to receive $25,000, you can state that they receive 25%. Another way to write this detail is to say "$25,000 or 25%, whichever is the greater". Why do this? Your estate may fluctuate after your will or trust has been written. You may have less funds than you thought when creating the documents, particularly if you live a long time and spend down your assets. Alternatively, you may have more assets after your death, especially if you have stock that rises with the market. By naming only a dollar amount, you potentially limit what your beneficiaries receive. If your estate has grown, you may shortchange your heirs; if your estate has shrunk, you may not be able to fulfill the stated amounts. You should consider talking with your estate attorney and financial advisor about options. To properly structure your estate plan, talk to a professional for advice.

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