Many people were aware of the dangers presented by family conflict as it relates to estate planning. In fact, in 2019 this was recorded as the number one threat from the perception of Americans who were concerned about how conflict could derail their estate planning intentions.
In 2021, however, a new study shows that priorities have shifted and perceived threats from the eyes of Americans have changed. Family conflict is no longer seen as the biggest threat and instead, people are more conscious of the potential for excessive health care costs and increased life expectancy that could make this even more serious.
Family conflict decreased from being mentioned by 25% of respondents in 2019 to being mentioned by only 10% in 2021. Family conflict can still be a challenge particularly as it relates to blended families.
If you’ve made significant changes in your family structure in the last year, such as getting divorced, moving, or having a new child, it’s important to reflect on how your estate planning might need to be updated as a result.
On an ongoing basis you need to sit down with an experienced estate planning lawyer to discuss your primary concerns and to ensure that your strategies and tactics align with what you hope to accomplish.
When you come to our office for help with NH or Maine estate planning, we’ll be there to guide you through the process of choosing the strategies most aligned with your specific needs. Don’t wait to get help- we’re here for an initial consultation to give you a sense of how we work.
Tom Torr
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