Should you talk to beneficiaries while making an estate plan?

On Behalf of | Oct 14, 2024 | Wills

There’s no legal obligation to talk to your beneficiaries when drafting an estate plan. You can simply let them find out what they inherit after you pass away. You don’t even have to tell someone if you’re disinheriting them.

However, if you want things to go smoothly, it may be wise to talk to your beneficiaries. There are a few potential benefits to having family conversations during the estate planning process.

Limiting disputes

To begin with, these conversations can help to limit disputes. If a child is unhappy with how assets are going to be divided, they can talk to you directly. If they find out after you pass away, they may get into a dispute with their siblings.

Avoiding assumptions

You also don’t want to make assumptions about roles and responsibilities other people would be comfortable taking. Maybe you believe that one adult child would be the best estate executor. In reality, they may be entirely uncomfortable operating in this capacity, meaning you should give the role to someone else. If you talk to them in advance, you can plan accordingly so that things go smoothly. 

Managing expectations

Some estate disputes simply revolve around mismatched expectations. A child believes they are going to get a certain sentimental item that actually goes to a sibling, for example. By having conversations in advance, everyone is on the same page and knows roughly what to expect during estate distribution. 

Creating an effective estate plan can be very helpful for your family, and it’s important to know what legal steps to take to do so.