Overlooked or Underappreciated Reasons for Estate PlanningOverlooked or Underappreciated Reasons for Estate Planning

Common reasons given for estate planning include: to avoid probate; to address taxes; to provide for spouse and family; and to preserve family businesses. Let’s explore important additional reasons, ordinarily left unaddressed, why estate planning is so important. These subjects often serve as substantial planning motivators for our clients, but aren’t found on client planning questionnaires and are frequently absent from the planning discussions and documents.

Incenting Family Behaviors

As children develop, they learn that certain behaviors are rewarded, for example, getting good grades or completing chores. When they move into the working world, this message is reinforced: they work, they get paid; they work hard, they get promoted and p...