It’s well known that family secrets often cause problems. Despite this, many people are still incredibly secretive about their estate plans with their family. They don’t see anything wrong with it and probably never dream that it could cause problems for their loved ones.
While you are under no obligation to share details of your estate plan, it is often wise. Here are some reasons why:
You take the stress out of the situation for others
If you were to suffer a serious injury that leaves you in intensive care, your family may be left wondering what to do. They might have to weigh up what they think you would want with what they would want for you, and it can be hard to make a decision, as personal bias, shock and grief can get in the way of clear thinking.
For example, the doctors are asking whether they should keep you alive on feeding tubes. Your sister is sure you would hate for this to happen, whereas your mom cannot bear to give up if there is even the tiniest chance to keep you alive. That situation could easily become tense and possibly lead to recriminations and a falling out. If you tell people your wishes ahead of time or let them know that you are giving your brother medical power of attorney, then you clarify things for everyone.
You can head off disputes that can fracture your family
You have decided to leave your brother and sister a third of your assets each. The other third you’ve destined for someone they have never met. Understandably, they may be shocked and confused when they discover this. If you sit them down now and tell them why this person is so important to you, it gives them a chance to understand and accept that it is really your wish. Without that knowledge, they might believe foul play was involved and seek to challenge the will.
Communication can help your loved ones accept your decision. If they don’t, your early communication can at least make it clear to the court that your choices were your own, and not the result of undue influence.
There’s a lot to consider when making an estate plan, so experienced legal guidance can be a great help.
