Families and Inheritance: Tips for Planning Ahead
Marlene S. Stum, Extension Specialist and Professor — Family Social Science
Reviewed February 2012 by the author.
Planning ahead for inheritance versus waiting until a crisis or death is beneficial to families. When they plan ahead, families have more choices, a chance for thoughtful communication, and fewer family conflicts.
To avoid common obstacles family members should:
- 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.
The award winning book, Who Gets Grandma's Yellow Pie Plate?™ Workbook (booklet or interactive CD) provides a positive planning process to transfer non-titled property. The workbook is based on research with families and attorneys and is designed to help overcome common inheritance decision-making obstacles. Whether planning ahead or making decisions when someone dies, the workbook is a must-read. It is a step-by-step guide filled with worksheets, practical suggestions, proven strategies, and real-life stories.