We know about diversifying our portfolios – although we don’t always do it.  If our financial eggs are all in one basket we take a huge risk that failure of an asset class could substantially decrease our net worth.   Another way we diversify is in our personal lives.  We have a variety of friends and we rely on different people for different things.  The question to ask is:  Which of your family members is most likely to care for you if health issues arise?

This will help professionals understand some of the motivations behind various gifting and bequest choices.  Individuals may want to ask themselves this question – sometimes it helps us understand our own actions.