Estate Planning – A Family Affair?

In the past, estate planning was conducted behind closed doors.  The family was kept in the dark until that particular family member passed away.  There are many reasons to keep this a private document.  It is of a very private nature and up to you to handle the way you want.  Unfortunately, every year there are many siblings finding themselves in disputes over family assets passed on to them.  Sometimes, the siblings don’t get along and that causes the problems, but more likely, the siblings do get along, but don’t understand the intentions of the deceased parent.

Parents are now starting to discuss openly with their children, the details of their estate plans.  They explain what they are thinking of doing with their estates, what they are trying to achieve and how it will affect each person.  It has been found that adult children can help give insights and feedback to the parents, which may help iron out any problems that may happen later.  In many ways, the children will be effected most by the estate plan and they can help the parents figure out how it may work out.

Remember, your estate plan can be done anyway you would like.  There are reasons to keep some private.  However, if you think it would be beneficial to discuss your estate plan with your children, to lessen the problems that may arise later, by all means, do so.

When you’re ready to put the estate plan in writing, come see us.

Todd Courser  810-245-0813