Estate Planning: “Think Beyond Money”

Are you worried about your family fighting after you’re gone? Some people are, and many more ought to be, in my experience. Even a close family relationship can become strained when a family member passes away without clear instructions or without thinking “beyond money.” I encourage people to think through and examine their estate plan concerns and try to prepare with clear communication and productive problem-solving as they pass on not only their financial assets but their family legacy.

As the article linked below points out, fights can break out over money, as we often imagine, but more often, over items of sentimental value – often, an item in this category isn’t even identified as “valued” until after the owner has passed away and, unfortunately, without understanding why multiple family members may cherish the item or the stories surrounding the item.  Don’t underestimate your own legacy, and don’t underestimate the emotional value of your personal property and family heirlooms to members of your family. These pieces of personal property and mementos provide important memories and connections that, if fought over, can leave family members feeling left out, cheated, or forgotten. But, if handled thoughtfully, they can also leave family members feeling connected, affirmed, and comforted.

Read this article for advice on how to handle communications with your family, how to organize and record your wishes, and how to keep family discourse after your death from impeding the celebration of your life and your legacy. And, of course, contact an attorney if you need assistance or advice on creating or handling your estate plan.

(*please note that some terms used in this article are outdated or inaccurate)

http://www.nextavenue.org/article/2014-01/what-heirs-want-even-more-money?utm_source=Next+Avenue+Email+Newsletter&utm_campaign=129ad2332d-10_16_2014_Legacy&utm_medium=email&utm_term=0_056a405b5a-129ad2332d-165014273&mc_cid=129ad2332d&mc_eid=7964c33fdb

ALL READERS:   This blog is not, nor shall it be deemed to be, legal advice or counsel. This blog does not create an attorney-client relationship with any reader.  It is designed to encourage thoughtful consideration of important legal issues with the expectation that readers will seek professional advice from a licensed attorney.