An Inheritance that Unites Rather than Divides

Proactive steps can help eliminate future conflicts

Most people desire to leave an inheritance, regardless of the size, to their family or friends. Even for the closest of families, lack of planning can create arguments and tension between those you love. Taking proactive steps can help improve the probability of maintaining harmony.

Have a plan

Too often the small things with little monetary value in an estate are overlooked. These ‘insignificant’ items may have a huge emotional connection to someone. Communicate with your heirs to see what may be important to them and how you plan to pass along sentimental items.

Don’t make one child in charge of others

Giving one child superiority over the others can cause unforeseen issues. This can be especially challenging when estates take a long time to settle or trusts need ongoing management. Differences of opinion between siblings can quickly turn into broken relationships. Consider a third party or professional to oversee and settle the estate.

Give equally or unequally?

Your love for your children may be equal but their needs might be unequal, possibly requiring a unique plan. Thoughtfully consider your plan and communicate with your family. Seek guidance from competent professionals along with your estate planning attorney.

In all circumstances, communication is vitally important to avoid an inheritance that will drive families apart. With careful planning, you can help ensure you leave an impactful legacy to make life better!

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More Reading: Overcome the Fear of Giving to Make an Impact