Inheritance Conversations With Your Children

When children don’t understand your inheritance intentions, it can result in arguments and legal battles among siblings and other heirs after you’re gone. You can take steps now to prevent that disruptive outcome. During this Life Happens Radio show, attorneys Lou Pierro and Carolyn Glynn will describe how to initiate a mature discussion with your inheritors, sharing details of your estate plan relevant to each child. They’ll walk you through the conversation about practical matters, such as your intentions on dividing up housing, retirement accounts, heirlooms and more.

Should you disclose exact amounts with your children? Lou and Carolyn will explain why that’s not a good idea. Wealth is relative, and many parents also fear losing their ability to cover retirement, medical expenses, and long-term care. They may need additional assets to maintain quality of life while protecting their legacy. Because of this uncertainty, managing the expectations of your children’s future inheritance is better than providing exact amounts. As we often say, Life Happens.

When it comes to setting up inheritance:

• Consider Fairness
• ⁠Avoiding Probate⁠
• Transferring wealth
• Addressing emotions in this conversation

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