Estate planning can be very challenging in some families. Sadly it is common for families to fight over money or keepsakes. Arguments can break out over unsettled issues that arose long ago. An Investor’s Business Daily article titled, “Advisors’ Strategies To Avoid Estate Planning Squabbles” discusses a few ways to avoid familial conflicts.
- Getting on the same page. Estate planning can be more complex with a large or blended family. Trying to include everyone in the planning process can help alleviate potential issues. Isolating or avoiding certain family members often will create or exacerbate problems.
- Focus on managing grief. Grievances that have been nursed over years can explode after a death in the family. By focusing on what needs to happen immediately after the death of a loved one such as planning a funeral, paying bills or administering an estate, can help direct everyone to concentrate on helping rather than grieving.