Making The Complex
UNDERSTANDABLE

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Estate planning: Keeping the peace in the family

One of the most important things people want to accomplish when writing their estate plans is to keep the family peace. There is nothing that may cause Louisiana parents more upset than to think their estate planning decisions have caused a rift among their children. One of the best ways parents may be able to keep everyone happy — in addition to having a comprehensive estate plan — is to have open and honest conversations with children who will inherit their assets.

Parents will usually choose one child to be the executor of their wills. Although that may be a natural inclination, some experts believe it may not be the wisest. Appointing a trustee or having an attorney look after this important task may take some of the stress off grieving family members. It may also prevent children from thinking parents favored one child over the rest.

Another idea that may work in certain circumstances is to set up separate trusts for each child. That way, each child can ask questions if he or she believes treatment has been unfair. In this way, beneficiaries can also choose their own trustees.

There are ways to go about estate planning that may keep the peace after a loved one’s death. A Louisiana attorney may be able to help a client to choose what methods work best. It will likely give a client comfort knowing that, when he or she is no longer here, his or her family members will continue to have amicable relationships and will feel like they’ve been treated fairly. 

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