How to Preserve Your Family Relationships

Summary: If you exclude a family member who is a natural heir from your estate plan, long-term damage is likely to occur between that member and the other family members..

Your Estate Plan Should Focus on Keeping Good Family Relationships

You should avoid an estate plan which excludes a family member, such as your son or daughter, or your spouse.

If you exclude a family member, then the future relationships among your family members will be damaged, probably forever. The excluded family member will likely withdraw from the others because he or she feels like they have been short-changed.

Therefore, the best estate plans include all family members who are natural heirs and treat them equally.

Children From Your Spouse's Prior Marriage

In most cases, children from your Spouse's prior marriage should be included with a small distribution, even with as little as 1% or less. "Blended" families are still families. However, your own children and your surviving Spouse should be the primary beneficiaries.