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Gifting to Nieces and Nephews ? What You Don’t Know Can Hurt You (and them)

By Kristina R Haymes

From the Desk of San Diego Trust and Estate Lawyer, Kristina R. Haymes  Picture this scenario? You?ve worked hard, saved and managed to accumulate some wealth. You?re not a robber baron by any means but you?re comfortable.  Your siblings haven?t fared as well and you want to make sure that their children have the benefit of a solid higher education.  With no children of your own, it seems the right thing to do.   So you set up 529 college education savings plans for your nieces and nephews, make them the beneficiaries, and mention everything in your will.  And life goes on? You don?t give it another thought beyond making regular contributions. You move to another state.  You divorce.  All things that happen in the normal course of living.  You know you need to change the beneficiary of your estate and name another executor (both are still your former spouse) but you never really get around to it...continue to full post

Full post as published by Mediation Marketing Tips on July 30, 2010 (boomark / email).