Estate planning can bring about strong emotional issues among different heirs. Parents often struggle to decide whether to distribute assets equally or fairly among different beneficiaries. It is extremely important to open up a dialog and offer clarity so that the beneficiaries understand the reasons behind a decision. There are many different factors that go into a person’s decision over what and how much to distribute. One child might have a disability while another child might be an investment banker. A parent might have a valid reason for making an unequal distribution when one child has special needs that must be provided for. Letters of intention can help relieve family tensions by offering guidance to loved ones.
See Paul Hechinger, Estate Planning: Help Minimize Discord Among Heirs, Financial Planning, August 14, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
