Your Kids Do Not Want That
If you look around your home, you can probably find a lot of items that are precious to you that your kids would prefer not to receive as part of their inheritances.
One of the smaller but significant mistakes in estate planning is when parents make assumptions about what items of personal property their children might like to inherit. For example, a parent might have collectible plates that have been purchased through the years, but the children might not have any interest in them.
Why? Perhaps many other people have the same plates, making the plates not worth very much in the present market.
Inheriting such things becomes a burden for...