• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veterans Benefits
  • Seminars
  • Areas We Serve
    • Ballwin
    • Chesterfield
    • Clayton
    • Creve Couer
    • Des Peres
    • Edwardsville
    • Fenton
    • Glen Carbon
    • Glendale
    • Kirkwood
    • Maryland Heights
    • Oakland
    • Sappington
    • St. Louis
    • Sunset Hills
    • Valley Park
    • Webster Groves
  • Resources
    • Asset Protection Worksheet
    • Elder Law Resources
      • Chesterfield Elder Law
      • Fenton Elder Law
      • Kirkwood Elder Law
      • Sunset Hills Elder Law
      • St. Louis Elder Law
      • St. Peters Elder Law
      • Webster Groves Elder Law
    • FREE Estate Planning Seminars
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
    • Multimedia
    • Newsletters
    • Presentations
    • Pre Consultation Form
    • Probate Checklist
    • Probate Resources
    • Retirement Planning Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.

St. Louis Estate Planning & Elder Law Attorneys

Logo
CONNECT WITH US TODAY (314) 966-8077
ATTEND A FREE WEBINAR
Home / Inheritance / Will Your Beneficiaries Blow Their Inheritance?

Will Your Beneficiaries Blow Their Inheritance?

October 8, 2015

Inheritance

Blow Their InheritanceExperts tell us that we are on the verge of the greatest transfer of wealth the United States has ever seen. If you are on the gifting end of those transfers you need to consider the question “Will your beneficiaries blow their inheritance?” Unfortunately, experts also estimate that at least one-third of the recipients of the coming wealth transfer will indeed do just that – blow their inheritance. What can you do to protect the inheritance you leave behind? The single most important step you can take to prevent your hard earned assets from being squandered or lost is to create a comprehensive estate plan.

Right now, the “Baby Boomer” generation is heading into, or already in, their retirement years. The sheer numbers of people who make up the Baby Boomers will result in a wealth transfer estimated to be in the trillions as they die and leave behind estates. Several studies tell us that the recipients who are likely to receive an inheritance from these estates are ill equipped to handle an inheritance, meaning they are at risk of losing it within a short period of time after receiving it. In fact, one recent study showed that one in three beneficiaries of an inheritance were in a negative savings situation within two years of receiving their inheritance. Experts speculate that much of the problem is that beneficiaries fail to use the inheritance to save for their own retirement, instead seeing the gift as a way to purchase “extras” such as vacations or “toys.”

While there is plenty of advice out there for beneficiaries, what can you do to help ensure that the estate you leave behind doesn’t disappear in a short period of time? A few suggestions include:

·Talk to your beneficiaries about their coming inheritance. Don’t assume they know how to handle their money much less save for the future.

·Use your estate plan wisely. Don’t hand a large sum of money to someone who isn’t ready to handle it.

·Create a trust agreement for beneficiaries. Use the trust to doll out assets slowly to allow beneficiaries to adjust to the idea of having money.

·Consider keeping important assets, such as real estate, in a trust and only allowing beneficiaries the use of the asset instead of gifting it outright.

Careful estate planning can go a long way toward protecting the assets you leave behind from being lost or squandered by beneficiaries who are simply not prepared to handle them wisely.

If you have additional questions or concerns about how best to transfer your wealth when you die, contact the experienced Missouri estate planning attorneys at Amen, Gantner & Capriano, Your Estate Matters, LLC by calling (314) 966-8077 to schedule an appointment.

 

  • Author
  • Recent Posts
Paul Gantner
Paul Gantner
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
Paul Gantner
Latest posts by Paul Gantner (see all)
  • Show Your Love by Creating an Estate Plan - March 21, 2023
  • What You Need to Know About SECURE Act 2.0 - March 14, 2023
  • The Lessons from Lisa Marie - March 7, 2023

Filed Under: Inheritance

Other Articles You May Find Useful

Missouri inheritance tax
What You Need to Know about Missouri Inheritance Tax
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
Can You Disclaim an Inheritance
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
Is The Inheritance You Leave Your Kids Taxable?
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
What Inheritance Rights Does a Child Conceived after Death Have?
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
Free Report: How Long Will It Take to Actually Receive Inheritance?
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
How Do I Know What My Inheritance Is?

About Paul Gantner

I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations. My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”

Primary Sidebar

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • twitter
  • linkedin
  • youtube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Amen, Gantner & Capriano
10733 Sunset Office Drive, Suite 425
St. Louis, MO 63127

See Larger MapGet directions

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

Map

map for Amen, Gantner & Capriano Your Estate Matters office
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Footer

Connect to us

  • Facebook
  • twitter
  • linkedin
  • youtube
footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.

Amen, Gantner & Capriano,
Your Estate Matters, LLC

Attorney Advertisement