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Estate Planning To Ensure Family Harmony

 The death of a parent often shifts the family dynamic, making issues arise that appear to be based on current events but in fact are perceived slights that occurred years ago and are now playing out as the parents’ estate is doled out. 

As much as we might hope for family harmony, there is that 'inner child' one needs to deal with and which can, at times, effect a child's every decision or reaction. This is oftentimes strikingly apparent when it comes to creating one’s estate plans. Remember: The estate planning decisions you make today may affect your loved ones, perhaps for generations.

This issue was the focus of a recent article from Private Wealth titled Siblings Scorned.

As the article notes, it takes a careful hand to divide your estate amongst your family members. Sometimes, even mathematically, equal shares aren’t even in the eyes of certain family members. What are the possible tensions in the family? The reasons are as varied as the makeup of each family itself. For example, did one child get a college degree, while another was denied the opportunity because the family fell on hard times? Did one child seem more favored by the parents, either earlier or later in life?

Interestingly, the most important considerations when planning your estate are rarely money-focused. Over the years, studies have shown that communication between generations and among family members can reduce the risk of family fallouts over estate planning decisions. The “details” communicated, however, will vary from family to family.

I would recommend reading the article from Private Wealth for ideas to mull over and for some real-life stories.

Reference: Private Wealth (March 2012) “Siblings Scorned

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We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
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Thank you, Walt and the Zaremba Team

Coronavirus/Covid-19
Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.