There is nothing that ruffles feathers more with adult children than thinking they’ve been given the short end of the stick when it comes to a parent’s will. Family members in Illinois have disagreements with each other over many things, but when it comes to money and other valuables normally included in estate planning, things can get pretty ugly. Parents can be generous in what they leave their adult children, but it may be wise for them to discuss things with their grown kids so as not to leave any surprises.
Because of the economic climate these days, there may be instances when parents have to dip into their savings to help an adult child in need. This is an area that could cause disagreements in the future. When parents open the communication lines with their adult kids on their estate plans, there is room to ask questions and query certain things. Hurt feelings may be prevented by having this often difficult, but necessary talk.
Parents should have a road map and plan for unexpected detours. Part of that map should include naming someone to act as power of attorney. It may be best that this person isn’t a child. That may cause more hard feelings. It is almost always a good idea to tell adult children what’s what in terms of an estate plan.
Illinois residents who get tax and estate planning advice may be able to avert family squabbles when it comes to estate planning. An estate planning attorney may be able to offer wise guidance about what to include in documents. Such advice may appease everyone concerned after having reviewed the client’s unique situation.