Financial & Estate Planning

Communication can be the key to a successful estate plan. You should tell your heirs what you’ll be leaving them, and why. That will give them a chance to ask questions.

Ideally, you should go over your estate plan with each heir but that may not be practical, because of logistics or personality clashes. One possible technique is to include a professional advisor in such meetings. Such an approach makes the meeting more businesslike and may help keep your heirs from being touchy about certain subjects.


Acquaint them with your tax preparer, who may be able to help them after they inherit. Your heirs also should meet with your investment advisor, to learn what strategies you’ve been pursuing; if you own real estate, they should meet with the property manager. The more information you can provide your heirs, the greater the chance they’ll handle their inheritance wisely.