Estate Planning, Legacy, Uncategorized, Will Contests

Some Factors to Consider For Your Estate Plan

Happy Thanksgiving! I hope you’ve had a wonderful week.

And what a way to celebrate Thanksgiving than to talk about families… and how to estate plan around families!

Families come in all shapes and sizes. Thankfully, I have a family that gets along better and better as the years move on.

But some families are not so lucky.

When I meet with people for estate plans, I always ask at least three questions. And one of them is “how are your family dynamics?”

Do you all get along?

Does someone in the family steal and lie?

Do addictions and dangerous habits ravage members of your family?

Are there factions between different parts of the family divided on specific issues?

Do you trust your family member with finances, such as your life savings and investments?

These are the kinds of questions one should ask to determine how strongly they should worry about their family’s dynamics and their estate plan.

Next week’s letter will be about specifics, but, generally speaking, estate planning can handle any family dynamics. You just need to make sure you phrase things correctly… ideally with an attorney!