Navigating Conversations About Inheritance With Adult Children

With families gathering and adult children returning home for the holidays, this could be a good time to initiate an important conversation with them about family legacy planning and wealth transfers. While this conversation can be difficult, it’s best to be fully transparent about your intentions and your adult children’s role in your estate planning. If you have adult children who will be your heirs, make sure they know where to find your key estate documents — such as wills, powers of attorney, and health care directives — and that they understand the broad strokes of your intentions. Being transparent about the inheritance they may expect and your wishes for carrying out your estate plan can help prevent future conflicts. If you have questions or need assistance facilitating these conversations with your adult children, reach out to your advisor for support.

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