Families and Inheritance: Tips for Planning Ahead
Marlene S. Stum, Ph.D. Family Social Science
"As executor for my mother's estate, I needed help. I never expected my sisters to act the way they did! This information helped us sort out what we wanted, talk about what we thought was fair, and consider different options. It wasn't easy, but we are still talking." Adult Daughter
Planning ahead for inheritance versus waiting until a crisis or death does have benefits. These include more choices, a chance for thoughtful communication, and fewer family conflicts. The award winning book, "Who Gets Grandma's Yellow Pie Plate?" provides a positive planning process to transfer non-titled property. The book is based on research with families and attorneys and is designed to help overcome common inheritance decision-making obstacles.
To avoid common obstacles the book encourages family members to:
Recognize the sensitivity of the issue
Determine what you want to accomplish
Decide what's "fair" for your family
Understand belongings have different meanings to different individuals
Consider distribution options and consequences
Agree to manage conflicts if they arise
Whether planning ahead or making decisions when someone dies, the book is a must-read. It is a step-by-step guide filled with worksheets, practical suggestions, proven strategies, and real-life stories.
To jump-start your communication and planning, order "Who Gets Grandma's Yellow Pie Plate? Workbook: A Guide To Passing on Personal Possessions." Call 1-800-876-8636 or place an order on www.yellowpieplate.umn.edu. ($12.50 plus shipping and handling)
For more information visit www.yellowpieplate.umn.edu. or call 1-800-876-8636. Copyright 2001. Regents of the University of Minnesota. Permission is granted to reprint these articles as long as the author and source are cited, and the purpose is informational, not for selling or making a profit.
The University of Minnesota Extension Service is committed to the policy that all persons shall have equal access to its programs, facilities, and employment without regard to race, color, creed, religion, national origin, sex, age, marital status, disability, public assistance status, veteran status, or sexual orientation.
|