Some people choose to tell their family and beneficiaries about their estate plans. Others prefer not to talk about it.
Informing people might not be so important if your will is as people expect. However, one report found that 36% of people who had made a will said it would contain some surprises.
Surprises can create complications
Let’s say you have decided to cut your children out of your will and leave everything to the local dog shelter. You almost wish you could be around to see the expression on your children’s faces when they learn they will get nothing.
While that might give you temporary satisfaction, think about the hurt it will do. Even if you have fallen out with your kids, they probably have some deep-rooted love for you, which a move such as this could destroy. The animal shelter may also feel uncomfortable receiving this bequest, especially if your children try to challenge it.
A similar thing could apply if you leave everything to your kids but don’t divide it evenly, which is what most kids probably expect to happen. The child who gets less may wonder for the rest of their life what they did to upset you. Or whether you just loved them less the whole time? Or whether their siblings influenced you to make that decision. The other children may feel guilty about getting more, and it could even harm the relationship between them all.
It’s probably best to avoid unpleasant surprises
You are free to make the choices you like about your estate. However, if you wish to make a decision that could be problematic, informing those affected while you still can is typically best. It could result in a conversation that causes you to change your mind. Or at the very least, it can add clarity to what could otherwise be a confusing and upsetting situation for all.