We talk here on the show about retirement planning and legacy planning too, but one thing I’ve really noticed as a trend in the last 10 to 15 years is, our children don’t want our stuff. My parents and grandparents appreciated good furniture passed down for example or a collection of figurines, but that’s all changed. And I think it’s important to start talking about this more when thinking about retirement. As part of legacy planning, let’s look at your house. Today I’d say 80% of the time your kids don’t want your house. Now with the demand for houses and the high prices people are getting for their home, most children would prefer the house to be sold and money divided, if that’s what you wanted to have happen. If you have a lake house or cabin many families want to keep that in the family but talk with your adult children and make sure it’s something they really want. If you have multiple children, this can be hard to divide up and for others they can’t afford the taxes and upkeep anyway. The sooner you know where they stand on this the better. If you aren't sure how your heirs feel about inheriting your "stuff," then the easiest course of action is simply to ask them. I think you'll be surprised with the answer.
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