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Estate planning that may keep the family peace

On Behalf of | Oct 26, 2020 | Estate Planning |

People who are thinking about getting the documents together for their estate plans no doubt want to make sure what they have in place won’t create bad feelings between family members. There is estate planning help for Massachusetts residents looking to keep peace in their families once they have passed away. If testators have more than one child to think about, they might want to make sure their assets are divided fairly.

Communicating with children about estate planning is paramount, but so is choosing the right trustee if parents have set up trusts for their children. Naming children or close friends might not be the best choice since they may be too close to maintain objectivity. A corporate trustee who understand the financial dynamics of trusts may be a wiser choice even if it comes with a fee. These services may save money and time in the long run should there be a legal fight over a trust.

If children have a tendency not to get along, separate trusts could be set up for each, rather than one large children’s trust. That way, if a child disagrees with something the trustee has done, he or she can query it alone. In fact, children can even be given the authority to choose their own trustees for their trust funds.

Many testators in Massachusetts believe their children won’t disagree over their estate planning decisions. That is not always the case even if siblings usually get along. There are ways to minimize family dissension when it comes to estate plans. Getting solid legal advice about estate planning options might be the right route to follow.