HOW TO PREPARE YOUR CHILDREN TO INHERIT YOUR PROPERTIES AAOA is well known for its knowledgeable and helpful customer service team. Throughout the day, they are available to answer all types of questions from AAOA members ranging from “How do I place an order?” to “Can you help me analyze this credit report?” But one question that is particularly moving is when someone calls and says, “My parent(s) recently died and left me their apartment buildings. I need to find a new tenant and I don’t know anything about being a property manager.”
“While there are many ways to mishandle an inheritance, chief among them is a lack of preparation,” says Forbes. “Parents may spend time and money to ensure that their estate is organized properly, but those efforts may be wasted if they don't also prepare their heirs to manage the properties they have inherited. To
empower future generations to oversee and sustain inherited wealth, it is necessary to equip them with the skills and knowledge they need to do so.” To help the next generation thrive, take the following proactive steps:
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