In our last post, we began looking at the increasing problem of caring for elderly parents, and how this can financially affect the adult children who care for them, as well what those children can expect for an inheritance. As we've noted, adult children are often caught between a feeling of duty or a debt of gratitude to care for an aging parent and a desire to receive a handsome inheritance.
Estate planning is sometimes a relatively simple process. In other cases it can be downright complicated. The complication may come from managing a variety of complex assets, but it can also come from complication in the family itself.
It is quite common for individuals to start thinking about building an estate plan once they have children, as they naturally begin to consider who will manage the assets left to the children and who will act as guardian in the event of untimely death.