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Involving adult children in estate planning may be beneficial

Estate planning -- whether done in Florida or elsewhere -- is certainly a private matter. However, including others in the process, especially adult children, may prove to be beneficial. Unfortunately, family members do end up fighting about the details of estate plans when they feel that they have been unfairly treated or they simply do not agree with what has been decided. By allowing adult children to have some involvement in the estate planning process, this can help prevent such problems in the future.

Sometimes, it is hard to know if children will fight over money or other assets after one's death. There are those who will not have this problem, but there are some who will. Fighting over what has been left to children from deceased parents can create hard feelings that can rip families apart. It does not have to be this way.

This problem can be avoided by planning early and communicating those plans to adult children or by allowing one's adult children to be present through the estate planning process. If any concerns are brought up, they can be addressed then so that children understand why certain decisions have been made. As necessary, modifications can be completed and, again, communicated to the affected beneficiaries.

Estate planning is never done with little thought. Most parents simply want to pass on what they can to their loved ones. Hopefully fights can be avoided; however, it is not always easy to make everyone happy. With assistance, parents in Florida or elsewhere can create clear, comprehensive estate plans that provide for their children. Such plans will help prevent any issues when the time comes for the estates to be administered.

Source: minutemannewscenter.com, "Keeping the peace among adult children in estate planning", Nathaniel Sillin, March 27, 2016

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