• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • WHO WE ARE
    • About Our Firm
    • Attorney and Staff Profiles
    • News and Events
  • Areas We Serve
    • Essex County, MA
      • Andover
      • Beverly
      • North Andover
    • Hillsborough County, NH
      • Manchester
      • Nashua
    • Middlesex County, MA
      • Concord
      • Lexington
      • Wakefield
      • Winchester
      • Woburn
    • Rockingham County, NH
      • Exeter
      • Londonderry
      • Salem
  • Services
    • Asset & Business Planning
    • Elder Law & Medicaid Services
    • Estate And Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Loss Of A Loved One
    • Pet Planning
    • Power Of Attorney
    • Probate and Trust Administration
    • SECURE Act
    • Special Needs Planning
    • Young Families
  • Elder Law
    • Coping with Alzheimer’s
    • Hospice Care
    • Medicaid Planning
    • Nursing Home Planning
  • Resources
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder law reports
      • Elder Law Resources
        • Elder Law Resources – Londonderry, New Hampshire
        • Elder Law Resources North Andover, Massachusetts
        • Nashua, New Hampshire Elder Law Resources
        • Woburn, MA Elder Law Resources
    • Estate Planning
      • Estate Planning Articles
      • Estate and Gift Tax Figures
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
      • Business Planning
      • Charitable Gifting
      • Estate Planning
      • Elder Law
      • Frequently Asked Questions for Families Without an Estate Plan
      • Incapacity Planning
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Trust Administration & Probate
      • Wills and Trusts
    • Medicaid Calculator
    • Newsletters
    • Presentations
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss Of A Loved One
      • Probate Resources
        • Nashua, New Hampshire Probate Resources
        • Probate Resources – Londonderry, New Hampshire
        • Probate Resources – North Andover, MA
        • Probate Resources – Wakefield, Massachusetts
        • Woburn, MA Probate Resources
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
    • Published Books
  • Seminars
    • Live Seminars
    • Online Seminars
  • Videos
  • Contact Us
  • Blog
  • Reviews
    • Our Reviews
    • Review Us

DeBruyckere Law Offices, PC

Serving Southern New Hampshire & Essex Country, Massachussetts

Call us today(603) 894-4141

(978) 969-0331

Online Seminars
Attend Free Seminar
Home » Estate Planning » Are the Kids Prepared for What Your Estate Planning Documents Reveal?

Are the Kids Prepared for What Your Estate Planning Documents Reveal?

October 20, 2015Estate Planning

capture-20150201-233301

New data came out last week and some of the numbers were surprising. As estate planning lawyers, we know how important a healthy dose of transparency is when it comes to wills, trusts, insurance policies and other crucial documents. Unfortunately, only around 55% percent of American parents even have a will in place. Do your kids – whether they’re adults or minors – know where to find your estate planning documents?

Close to one-third of parents have no estate planning documents in place – not even a will. Only 16 percent of adults whose parents are still living say they could put their hands on those documents if they needed to access them. Just 40% of Americans have updated their estate documents in the past five years and 25% of adult children don’t know if their parents’ will has ever been updated.

Nearly 60% of adult children have no idea at all what’s included in Mom and Dad’s estate plan. That’s huge, because it means they’re likely in for at least one surprise when the time comes and it may not be a pleasant one.

Caring.com released the data from its latest survey. Andy Cohen, CEO of Caring.com says, “Wills and estate documents can be a touchy subject, but they are necessary conversations to have.” He goes on to explain, “Too often the surviving family members are left not knowing where to find the documents, or worse, have to go through a lengthy and expensive legal process because no documents were ever created.”

Even when a will or a trust is in place, the longer they go updated, the greater the odds of a smooth transition. Wills and trusts are legal minefields and as estate planning lawyers, we know the turmoil it can cause in families.

If turmoil exists before the death of a family member, it can certainly transcend into efforts to close the estate. Sibling rivalry is a big challenge when two children don’t get along or if there are long-simmering problems that were never resolved. It can lend to deep divides that are sometimes never mended. Getting to the point that a will is read and one child feels slighted can greatly enhance that anger and frustration. Some clients prefer to lay the cards on the table, so to speak, while they’re still living. Some feel as though they need to explain their decisions and some hope it might be a way to open a crucial conversation that can begin to heal. Every family’s different, however and while one family sees the importance of transparency, others feel the less they say, the better. It’s one less “no win” situation they will have to endure in this life.

As mentioned, one of the biggest “oh no” moments are those unexpected surprises that survivors would have never considered. Whether it’s poor planning for covering hefty estate taxes or the revelation that the deceased had a child with someone other than his or her spouse, these kinds of surprises can cause devastating and permanent damage. Again, it’s one of those times when you have to do some heavy soul searching. In the case of estate taxes and other expenses being too burdensome, some clients purchase life insurance policies for that sole reason so that loved ones aren’t left with a generous gift, but with overwhelming taxes staring at them.

We’ve seen it all – and in nearly every situation, there’s a solution to be found that a client had not considered. No one looks forward to these kinds of meetings with their estate planning lawyers, but it’s been our experience that our clients leave feeling far better about the state of their estate than they did when they arrived. To learn more, contact DeBruyckere Law Offices at (603) 894-4141 or (978) 969-0331.

  • Author
  • Recent Posts
Daniel DeBruyckere
Daniel DeBruyckere
Attorney Daniel A. DeBruyckere has been practicing law in New Hampshire and Massachusetts since 1998, and has helped hundreds of clients with their estate planning and elder care issues. He is very well respected in the area of estate planning, probate, trust administration, elder law issues, and business planning.
Daniel DeBruyckere
Latest posts by Daniel DeBruyckere (see all)
  • Do I Need an Attorney to Administer a Trust? - January 26, 2023
  • How Using a Trust Can Protect a Valuable Inheritance - January 24, 2023
  • What Seniors Need to Know to Protect Assets - January 19, 2023

Other Articles You May Find Useful

Beverly estate planning attorney
Do We Need an Estate Plan If We Do Not Plan to Have Children?
Beverly estate planning attorneys
Am I Entitled to Social Security Based on My Spouse?
Beverly estate planning attorney
Make Reviewing Your Estate Plan Your New Year’s Resolution
Common Mistakes In Estate Planning 150x150
Common Mistakes in Estate Planning – Part III
Common Mistakes In Estate Planning 150x150
Common Mistakes in Estate Planning – IV
Beverly estate planning attorneys
15 Things to Do Following the Death of a Loved One

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram

Blog Subscribe

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Testimonials

DeBruyckere Law Offices, PC footer

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
footer-logo

© 2023 DeBruyckere Law Offices
All Right Reseved.

Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.