Why Objects Matter in Estate Planning

Tangible objects are often intertwined in family stories, symbolising certain milestones of a family’s journey as well as serving as a source of cohesiveness and tradition. Families should consider the  shifting significance of these objects caused by intergenerational transitions so as to avoid any potential conflict and/or litigation.

But on a more positive note, these same objects can be utilised to create a singular family narrative, linking generations with a set of values and traditions. A strong family narrative can be simply developed through conversations. However, it is important to realise that these objects may still be ignored due to their comparatively mundane nature. Moreover, they are often not viewed and valued consistently across family members. These challenges again highlight the need to actively initiate and engage in family conversations about these objects ahead of time.

See A Train, A Spoon and the Continuity of the Family Story, Robert Holton, WealthManagement.com

Posted by Elizabeth Cheung, Associate Editor, Wealth Strategies Journal.

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