Did you know that it is possible to prevent the bitter bickering between siblings that often accompanies the inheritance of property from a parent? Absolutely. Mental health professionals have found that by simply drawing up a will and discussing the reasoning behind your decision to leave a given piece of property to one child over another can prevent the break-up of a family once an inheritance is claimed. Unfortunately, over 70% of Americans fail to prepare a simple will!
Once a simple will is drawn up, many professionals recommend sitting down with adult children to answer questions and discuss hurt feelings before problems arise. In many cases, bringing in a professional family mediator can make these difficult conversations go more smoothly. Regardless of how the discussion takes place, the time and effort put into timely estate planning and communication will go a long way towards ensuring family harmony.
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