To make sure that someone they love receives a portion of their estate some people decide to adopt the loved one. That is unnecessary and can create other complications.
When it comes to the law, having limited information can be dangerous.
For example, what if you know there is a default rule that says your children will inherit your estate if you do not have a living spouse. So what if you reared someone as if he or she was your own child and you would like to make sure they receive an equal share of your estate? Does that mean you should adopt that person?
That is what one person recently wrote and asked My San Antonio, as reported in "Should adoption be used to ensure an inheritance?"
In that situation adopting the person would work. However, there is a far simpler way to make sure someone receives an inheritance.
If you create an estate plan, then you can give an inheritance to anyone you want. The only restriction is that you cannot cut out your spouse or minor children completely.
On the other hand, adoption can create complications, since it severs the legal relationship between the adopted person and his or her biological family. It could potentially create other legal obligations for you and the other person.
Before adopting someone for inheritance purposes, visit an estate planning attorney.
In the end, getting a proper estate plan created may be an easier method of leaving your assets for another person than adopting them.
Reference: My San Antonio (Oct. 13, 2016) "Should adoption be used to ensure an inheritance?"
