There are some details that you may want to take into consideration when you’re planning your estate to make sure that your loved ones are on the same page after you pass away. If you take the attitude that you will play things close to the vest and say nothing to your heirs about your intentions there can be misunderstandings later on that breed dissonant interactions within the family. At worst, this type of thing can develop into a legal battle challenging your wishes, and short of this lesser acrimonious situations can ensue.
This is not going to be the ideal course of action for everyone and how you choose to go about things is a personal matter, but you may want to consider sitting down and having a conversation with your loved ones when you’re planning your estate. If you let them know what you intend to do in no uncertain terms they won’t be able to bicker about what your true wishes were when you pass away. Yes, your intentions will be stated in your estate planning documents but you may not be able to cover every possible situation and account for every personal possession.
When you do this you will be able to find out what items are especially important to each respective member of the family and this can aid in your inheritance planning efforts. Once this open dynamic is in place you may also want to consider discussing things like who you will choose to handle your financial and medical decisions should you become incapacitated. You may also want to explain your choices regarding the use of life support systems should you fall into an irreversible terminal condition.
If you let your heirs know what to expect you will will be setting the stage for a supportive and harmonious dynamic among your loved ones after you pass away.
- 2023 Caring.com Survey Reveals Widespread Estate Planning Unpreparedness - May 18, 2023
- Secrets and Intrigue: A Look at Five Unusual Trusts - May 2, 2023
- Are Living Trust Distributions Taxable? - April 13, 2023