Should we discuss our estate plan with our children?

This is a delicate decision that depends on your family, the relationship between you and your children, the relationships your children have with each other and whether or not you are treating your children equally. If the goal is to avoid hard feelings, and if one child is given more than the others to compensate that child for having been the parents’ caregiver, the others should know this so they do not accuse that child of having undue influence over your decision. If a well-off child is given less, the reason should be explained. If one child gets an outright distribution while another’s share is held in trust for a number of years, there could be resentment unless you explain why, as a parent you feel it is best.

– Lee C. Mulligan