Avoid intrafamily disputes with a family mission statement

Description

Abstract: No matter how hard a person works to ensure that his or her estate plan treats all family members fairly, hurt feelings and disputes can result if heirs don’t understand his or her motives. The idea behind a family mission statement is for the family to agree on a basic set of guiding values and principles and to memorialize them in a written document. This document can help avert intrafamily disputes after a loved one dies. This article discusses what a family mission statement should cover.