SAN FRANCISCO (12/23/13)--Money isn't everything. Only 9% of baby boomers are eager to get their hands on inherited money. And only 14% of people age 72 or older think financial assets are the most important bequests (MarketWatch.com Dec. 16).
Surprisingly, boomers would rather inherit a personal keepsake or family story than inherit money. According to a survey conducted for Allianz Life Insurance Co. of North America, 86% of boomers and 74% of those age 72 years or older say keeping their family history alive is most important.
But simply splitting up family heirlooms can breed enough discord to shake up even the closest families. To avoid potential problems, consider the following, according to MarketWatch.com:
For more information about inheritances, read "'Dibs on Dad's Watch!' Splitting Family Property" in the Home & Family Finance Resource Center.