Though many wealthy families attend to tax, financial and legal planning, with expert advice and well-developed strategies, they often neglect psychological planning. The consequences can be dire.
So, how does one help ensure that your own inheritors land safely on the “blessings” side? The author recommends family “open communication” and “teamwork” between and among family members, as well as intergenerational.
While the article is written from the perspective of an “inheritor,” there is much to glean from it when planning your own estate. One thing is certain: the failure to prepare your loved ones for their inheritance, then to protect them from it (and it from them) can be hazardous to your inheritors and to your wealth.
For more information, please visit my estate planning website.
