frayne
Thinks s/he gets paid by the post
Forgive me if this topic has already been covered but I did a search and did not find anything along the lines that I was looking for. Specifically what is the best way to pass on assets and wealth. Most here have put a lot of blood, sweat and tears into getting FIRE'd. But how much planning have you put into place to pass on assets to heirs once you take the dirt nap ? Is a will sufficient, does one need a trust and if so, what kind of trust, etc. ? As much as I hate to admit, I am pretty ignorant when it comes to this topic. Would appreciate any advice from the wise sages of the forum as to thier respective approach to passing on wealth and assets.
For a starting point, say one has $1 million is stocks, funds, cash and $300K worth of hard assets, is married with one adult child who is married and has two children. The main concern is making sure the grandkids get a good eduction.
For a starting point, say one has $1 million is stocks, funds, cash and $300K worth of hard assets, is married with one adult child who is married and has two children. The main concern is making sure the grandkids get a good eduction.