Never leave undivided real property to joint beneficiaries
Was going through an article on financial planning where in most of the points were redundant and contained what every financial planner would say. But this one point caught my attention and I firmly believe in this point and wanted to share it with my readers. As Iâ€™ve seen many family feud happened because of the below said reason;
Lots of things are more important than money. Family is probably at the top of the list. If you want a vicious family feud on your hands, breaking this rule would be a great place to start.
Imagine a farm that gets left to four sons: One has farmed it for 20 years; one is an environmentalist and wants it to be a park; one is broke and needs money; and one could not care less about it. Who will get wealthy from this plan? The attorneys. And the kids and grandkids will probably hate each other forever.
Remember that ‘equal’, ‘equitable’, and ‘fair’ are three different words with three totally different meanings.