Leading Estate Planning Lawyer R. Sam Price, founder of Price Law Firm, APC, in Redlands, CA explains that keeping family in the dark over estate planning affairs could cause division and anger amongst love ones. For more information please visit https://pricelawfirm.com
— Keeping family in the dark over your estate planning affairs could fuel greater division, confusion and anger, a California Elder Law attorney has disclosed.
For more information please visit https://pricelawfirm.com
During a recent interview, Mr Sam Price, founder of the Redlands-based Price Law Firm, APC, revealed several reasons why keeping a will's contents from family members could be counterproductive.
A person may withhold details because they don't want to upset their children or loved ones, fear their children will overstep their mark and abuse their power, be brazen and ask for an 'advanced inheritance', or they are simply unwilling to talk with their family about end of life decisions.
But Mr Price explained that the aims of an estate plan act as a guarantee that your wishes are carried out, put in place someone of trust to oversee financial and medical decisions on your behalf, and minimize the chance of legal challenges in court.
He added: "These can only be achieved by having the proper legal documents in place, such as wills, trusts, advanced directives, and financial and healthcare powers of attorney.
"But not informing your adult children beforehand of the responsibility they have to make either financial or medical decisions can create confusion and add unnecessary stress in an already stressful situation. A lack of knowledge will ultimately slow down the process."
While conversations about end-of-life arrangements can be uncomfortable, it is better to grasp the issue than store up problems later down the line. Mr Price said: "I advise my clients to be open about their estate plans with their families.
“They should explain their decisions and their decision-making process. Family members should also be informed of the ins and outs of the plan and understand the plan can also change depending on circumstances."
Release ID: 89038943