Estate Planning Pitfall: You Haven’t Informed Your Family About Your Estate Plan

Adler Pollock & Sheehan P.C.
Contact

Adler Pollock & Sheehan P.C.

There’s no question that creating an estate plan can be a major undertaking. But finally putting all the pieces of your plan together can bring peace of mind. However, it’s beneficial to take the next step and talk to your family about your final wishes.

Indeed, one of the biggest estate planning concerns is the potential for family discord. Frequently, this occurs when there’s little or no discussion of the estate plan among family members. The last thing you want to happen is to have loved ones “blindsided” by the terms of your will after your death.

This may occur if you give most of your estate to just one person (who may or may not be aware of your intentions). Others may resent your final decisions. Ultimately, this could lead to legal challenges.

Fortunately, there’s a relatively simple solution to these issues: Discuss your intentions with family members before you finalize your plan. This could result in squabbles and dissension, especially if the conversations involve sensitive matters, but it’s better to clear the air now so there aren’t surprises later.

Try to be open and frank in these discussions, and don’t keep any secrets. By and large, family members will appreciate your efforts and will be more likely to act harmoniously. You may even receive some input that could affect your plan.

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Adler Pollock & Sheehan P.C. | Attorney Advertising

Written by:

Adler Pollock & Sheehan P.C.
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Adler Pollock & Sheehan P.C. on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide