Do you need to tell children what they will inherit?

On Behalf of | Jan 15, 2025 | Estate Planning |

You’ve decided it is time to create an estate plan, and you mention to one of your adult children that you are thinking about writing a will. This leads to an ongoing conversation, and they ask what they’re going to inherit.

This raises an interesting question: Are you required to inform the people in your estate plan about what they should expect? Do you have to take their input into account? Or can you make these decisions entirely on your own?

Why conversations can help

From a legal standpoint, no, you are not obligated to tell anyone what they will inherit. You don’t even have to inform them that they are included in your estate plan. They will find out, along with everyone else, when they receive notice from the estate administrator.

That said, there are some compelling reasons to have these conversations. For one, it can help set realistic expectations. People sometimes assume they’re going to inherit far more than what is actually in your estate.

Additionally, these conversations can help prevent disputes. For instance, if you’re planning to leave unequal bequests to multiple beneficiaries, it could lead to conflict if they assumed the inheritance would be divided equally. By discussing your intentions in advance, you can explain your reasoning and ensure they understand that this was your decision, rather than attributing it to undue influence or other factors.

A comprehensive estate plan

These are just a few examples of how your estate plan can impact your family’s future and even their relationships with one another. That’s why it’s essential to create a comprehensive estate plan and fully understand the legal options available to you.