Linda and I have hired an elder advisor to help us plan for aging and end of life issues. We are finding the planning much harder than I expected. I just got a 36 page letter of recommendations. Some of them are difficult to accept.
A book I am studying, Beating the Midas Curse, says that 9 out of 10 inheritance plans fail to meet the objectives of the ones who make the plans. That is a sobering statistic, but I would say that my own observations are consistent. I have seen a lot of families destroyed by estate plans and I have seen other families destroyed by the absence of an estate plan.
Our own experience has been better. My parents did a good job of planning. It made the transition as painless as possible.
What has been your observation? If you were doing a plan in anticipation of your eventual death, what issues would you address?