Leave Specific Amount or Percentage of Estate?

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Some people keep their estate distribution simple by leaving their entire estate equally to certain heirs - the children, for example.

While others want to leave either a specific sum of money to certain people, or they want to leave a percentage of their estate to certain individuals or charities.

So which is better? A specific sum or a percentage of the estate?

When you leave a specific amount of money to specific people, it’s simple and easy to comprehend. But the problem is that you do not know if you will be spending the bulk of your estate during your lifetime, and if, when you die, your entire estate is consumed by satisfying the specific amount distributions, then the remainder beneficiaries will be left out in the cold.

But if you leave a percentage of the estate to everyone that is included, then that can eliminate the risk of your estate valuation fluctuating wildly. But if you leave everyone a percentage of your estate, it is likely that those beneficiaries, whether they are individuals or charities, will likely want to scrutinize estate accountings and estate valuations so that they can satisfy themselves that they are receiving the appropriate amount.

For prospective law firm clients who want to schedule a free 30 minute initial phone call with Paul Rabalais, go to: https://go.oncehub.com/Paul8

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Louisiana Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450