Family is one of your most valuable assets. Transmission of wealth through your estate plan communicates many things to those you leave behind. It carries additional weight because it is your final statement. Through planning you communicate your interest in the ongoing lives of your loved ones.
Anticipating and avoiding conflict in estate planning is important. For some families the settling of an estate leads to estrangement or hard feelings between siblings and their descendants that can last for generations. Long submerged sibling rivalries can come to the surface after a parent’s death. Even in the best of families, children facing the death of their last surviving parent may become possessive, greedy and argumentative. [Read more…]