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With Thanksgiving and the holiday season approaching, it’s a excellent age to consider sharing the broad outlines of your estate plot with your adult children. Many clients have questioned over the years if discussing their estate plot with their children is a excellent thought, and my answer has been that it depends entirely on family dynamics. Usually, the default position for most parents has been not to discuss their estate plot unless there was a compelling cause to do so. Having engaged in distinct meetings with the clients’ entire family encircling the table, I have seen the benefits family meetings can bring. Consequently, I recommend that the parents’ default position should alter, in other words, the family should have that meeting unless there is a compelling cause not to. This article identifies some of the reasons family meetings constitute sense.
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