At a glance
- Nina Dow, a partner at Bowditch & Dewey, told WealthManagement.com's Celebrity Estates podcast that attorneys should document a client's intentions, especially where inheritances are unequal or substantial assets go outside the family.
- Dow said splitting a family property equally can leave practical questions open, including whether heirs want to keep, rent or sell the home.
- Advisors can coordinate by identifying assets, confirming ownership details and working with the estate attorney so the plan reflects both the client's finances and family relationships.
Estate plans for clients without children can become vulnerable to disputes when beneficiary decisions clash with relatives' expectations. Nina Dow, a partner at Bowditch & Dewey, told WealthManagement.com's Celebrity Estates podcast that attorneys should document a client's intentions, especially where inheritances are unequal or substantial assets go outside the family.
Dow said splitting a family property equally can leave practical questions open, including whether heirs want to keep, rent or sell the home. Private meetings with an attorney help assess potential third-party influence on a client's wishes, and plan changes deserve attention before a health crisis rather than during one.
Advisors can coordinate by identifying assets, confirming ownership details and working with the estate attorney so the plan reflects both the client's finances and family relationships. The file should name who a childless client has chosen beyond a spouse or child and explain why.
Reported by the Tax & estate planning desk from WealthManagement.com. Published . Corrections