Leaving holidays as bequests
Where once, inherited items tended to take the form of property, heirlooms and cash, some individuals are choosing instead to pass on holidays or travel gifts to loved ones who either enjoy travelling or who, the person perceives, could simply do with a good time and a rest.
As unusual as this may sound, the idea of leaving a holiday to someone does also have its financial benefits, should the travel gift be integrated within a trust, which can offer substantial tax savings on the final estate.
In this way, a valuable inheritance such as this is protected from any creditors or change of circumstance such as divorce, which could negatively impact on it.
When planning your estate, consider options other than the most obvious ones. An experienced and knowledgeable professional will be able to offer suggestions to ensure that whatever you leave behind will not only be financially sound but memorable in the personal sense.