Experts say discreetly leaving inheritance money to a beneficiary can be tricky. Having a will is an important thing to do, in order to prevent arguments among family members and other beneficiaries after your passing. However, some people choose to leave money to a person, but want to keep the gift a secret from the rest of their family for various reasons.
Toronto estate lawyer Edward Olkovich says large amounts of money taken from a bank account could raise suspicion among loved ones. If you are only leaving a small token amount of money, it is reasonable to ask somebody to keep the transaction discrete. However, when a person wants to leave a large sum of money to someone without others knowing, it is important to do so within a trust or within a legal will. This makes it legally enforceable. Additionally, when there is a situation of a blended family, with siblings from other marriages, the level of trust might not be as strong as within another type of nuclear family.
Suspicion and jealousy might cause people to be quicker to jump into a lawsuit if they suspect a private arrangement has been done without their knowledge. Be sure to leave your money to the ones you want to have it in a way that can be enforced legally. Having a trust set up allows someone who is looking out for the best interests of everyone to handle your affairs once you are gone.
