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Family disputes shouldn’t be part of the estate planning process

On Behalf of | Jul 14, 2020 | Estate Planning |

Massachusetts adults often put off thinking about the future because they assume they are too young or not wealthy enough to need any type of protection. As adults grow older and their children become adults, they may start to see the benefit of estate planning and having specific legal and financial documents in place. This can be complicated when children are adults and have opinions of their own, and estate planning can actually be the source of family conflict.

One way to reduce the chance of family fighting and disagreements is to have a financial plan in place. Before bringing other family members into the conversation, gather important documents and look at what type of protections may be necessary. This may include making a list of all assets, liabilities, accounts, valuable property and other things that could be important in an estate plan.

Massachusetts parents can reduce friction by discussing their intentions clearly and honestly with their adult children. When everyone knows what to expect, it will lower the chance of fighting and disputes when it’s time to settle the estate. It is also important that at least one person know where important documents are and what to do in case of a death or unexpected illness.

Estate planning can be a complex and surprisingly emotional process. Working with an experienced legal professional can ensure that all important documents are in place, as well as reduce the chance of issues with children down the line. With preparation and assistance, it is possible to remove family friction from the estate planning equation.