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.
