Avoid family squabbles after you’re gone
 The
purpose of an estate plan is to provide comfort and security
for one’s family. But sometimes the opposite can result.
If disagreements arise over terms of the estate plan, the
end result can be worse than having no plan at all.
It’s not uncommon for estates to be challenged by unhappy
family members. People may feel slighted or there may be confusion
because of badly worded clauses or incompletely expressed
intentions. And sometimes what was once a good and fair provision
in a plan can become out-of-date over time.
The delays caused by challenges can run into years and the
legal costs can severely deplete the estate, leaving little
for the beneficiaries but bad feelings and damaged relationships.
That’s why your estate plan should reflect a mutual
understanding of how you and your family see things. A good
first step toward achieving that is to hold a family gathering
and get everyone involved in the creation of the plan.
Before the meeting, let everyone know what you think the
plan should be like and ask for feedback. Encourage open and
honest communication among family members and keep in mind
that money is a sensitive topic and when people discuss it,
they often mask their true feelings.
Important information about our financial planning services can be found at the bottom of our
homepage.
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