A recent Wall Street Journal article noted that boomers and seniors are more interested in passing along family heirlooms and history, leaving a legacy for future generations that extends beyond money.
Citing a 2012 survey by Allianz Life Insurance that found 86% of boomers and 74% of Americans aged 72+ said keeping family history alive was the most important piece of their own legacies, the WSJ article also noted that family mementoes and heirlooms are viewed by these groups as a key inheritance item.
This is why we build Family Wealth Legacy Interviews into our planning process with all of our clients, at no extra fee. We just see it as part of the planning.
Unfortunately, family mementoes are one of the most common causes of conflict among heirs. Here are some tips for helping to keep your family out of conflict over the things you (and they) love:
If you would like more information about passing on the things you love to the people you love, contact a Personal Family Lawyer®today to schedule a time for us to sit down and talk.