The Law Office of Matthew C. Yu
Contact Our Office For A Free Consultation
Comprehensive Estate Planning And Probate Services In The South Bay

Addressing the sensitive subject of inheritance

For many Californians, the last aspect of a family member's death that comes to mind is the money left behind. First, surviving family must discuss funeral costs and plans, help other family members cope and even decide the next step for a surviving elderly spouse or minor children. However, financial steps during this time are generally a necessity, and some surviving family find themselves in a situation they had never imagined before: a dispute over inheritance. 

Money disputes are no new occurrence; unfortunately, they are capable of dividing relatives and even destroying relationships. When it comes to estate planning, Forbes magazine takes a look at why, exactly, so many siblings dispute over inheritances. With the roughly $30 trillion projected to be inherited over the next three decades, the nation's children and grandchildren are bound to fight over amounts at some point down the road. The reason? Some experts suggest that younger generations are not currently saving for retirement as much as their parents had in the past. Others simply feel entitled to their parents' inheritance and expect the money to cover their own retirement plans. Forbes takes into account the speculation from psychologists, as well, noting that today's money-fueled society can easily facilitate disputes. As older generations age, Forbes also notes that discussing plans openly with children is one way to avoid misunderstandings in the future.

The American Association of Retired Persons views the problem of inheritance disputes through a closer lens, adding that such disagreements do not always stem from greed. Instead, power struggles can take place between siblings, where the term "money" can translate to not only financial support, but also love and approval. Aligning with the Forbes article, the AARP adds that parents should arrange family meetings to discuss estate planning, retirement and health care planning. The topic may seem a difficult one, but sorting out the kinks at the beginning can help families avoid future trouble.    

No Comments

Leave a comment
Comment Information

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Get In Touch

The Law Office of Matthew C. Yu
3620 Pacific Coast Hwy. Suite 200
Torrance, CA 90505

Phone: 310-986-2364
Torrance Law Office Map