Making the Right Decisions Based on Family Dynamics

Why do I say a trust or a will is more than passing on assets? I’ve talked a lot about high net worth estate planning, digital assets and how gray divorce relates to estate planning based on retirement plans and powers of attorney. Certainly protecting assets is important. And if that’s the case, then passing assets on to your loved ones is also vitally important. This is true and I can advise you about the law and your legal options. However, there are things I don’t know, things that only you can tell me.

Family Dynamics Involved with a Trust or Will

The family dynamics are how you and other family members relate to each other. The dynamics define the roles each family member plays, which family members are good at doing what, which ones have the most heart, and how everyone gets along.

For example, your brother Alan may be a CPA and great with finances. Your sister Mary Ellen may be one of the best mothers you’ve ever known, so loving and wonderful with children. Your uncle Bobby Joe may be the most loyal and trust worthy man in your life. You know that when he gives his word, you could bank on it. Should anything ever happen to you, your brother Ronnie may be the ideal person to step into your shoes and run the family business. He’s been at your side since you started the company and understands exactly how you would make business decisions.

However, your wife has never liked Ronnie very much, so she may not listen to what he has to say.

If you and your wife were to die, and Mary Ellen and your mother both had a hand in raising your kids, there would be constant conflict. They never see eye to eye.

Working Closely with You to Make the Right Decisions

As your attorney, I will ask you about family dynamics and respect your knowledge. I will help you come up with an estate plan that takes care of those you love in the best way possible. The best estate plan puts those you trust and love in charge. It also takes into account their abilities to provide needed skills and create peace of mind.