Prepared Heirs

November 12, 2012   Estate Administration

The Best Estate Plan is No Match for Unprepared Heirs

By Nancy L. Powers, Esq.
Over the course of my career, I have encountered many families who were unprepared for the inevitable aging and loss of parents.   These families experienced unexpected rivalries that threatened to  cripple or destroy the very family unity and wealth that the parents and their estate planning attorney hoped to protect.   Well-drafted estate plan documents are designed to reflect clients’ instructions for passing their legacies to the right beneficiaries and providing for care of  clients and their families.  However, the best estate plan is no substitute for preparing heirs to deal with:  changing care needs of aging parents and other family members, the complexities of estate and trust administration, and how to avoid elder financial abus...
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