Pretty basic stuff, but often missed. Communication is key to good planning, and much easier during life.
Addressing potential conflicts while everyone is still alive is an even better strategy. Reich asks parents to get feedback from their children on what each one really wants from the estate. Usually “it’s not money, but items of sentimental and/or intrinsic value,” he said. “Most often the things that a particular child values most, the parents had no idea they even wanted to inherit.”