Should you involve your heirs in estate planning?
Many people who are creating a last will and testament or a trust will face a difficult decision regarding whether they want heirs or beneficiaries to be involved in the estate planning process and to be aware of the plans that are being made.
There are pros and cons to involving your heirs or beneficiaries in your plans. If you talk with them about your wishes, for example, you could reduce the chances that your will may be contested after you pass away. You can help your loved ones to understand why you are making the decisions that you are making about what to do with money and property.
On the other hand, the downsides could be significant. You could face pressure to create a plan that benefits particular heirs or beneficiaries and you could find yourself involved in a family fight and facing anger if your loved ones do not like the plans that you are making. It is your legacy and you deserve to do what you want with your money and property, so think carefully about whether to tell your family members your plans or not.