4 things to consider when leaving an inheritance

Passing on your home might not be the best idea

An illustrated image of money being handed from one person to another
Is it better to leave a home, or cash, to your children?
(Image credit: claudenakagawa / Getty Images)

Transferring wealth requires some forethought. There are a number of factors you'll need to consider about your own financial situation. You'll also want to think carefully about your intended recipients and what's most beneficial — as well as financially feasible — for them. By taking the time to think ahead when it comes to leaving an inheritance, you can avoid adding a headache to your loved one's heartache after you pass.

Help yourself before helping others

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Becca Stanek, The Week US

Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.