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Rebecca Rosenberger Smolen, left, and Amy Neifeld Shkedy, right, of Bala Law Group. Rebecca Rosenberger Smolen, left, and Amy Neifeld Shkedy, right, of Bala Law Group.

In our last article, “Demystifying the Estate Planning Process,” we attempted to simplify and break down the various steps involved in the estate planning process and to outline the key documents in a typical estate plan. Although we explained that the process of having estate planning documents prepared and executed can be fairly straightforward and somewhat painless, we understand that it doesn’t end there. Sure, the documents are essential in any successful estate plan. However, after the documents are executed (and in some cases, before), it can be advisable to discuss the estate plan, in some fashion, with family members or other intended beneficiaries and with those who will play key roles in the plan.

Every family situation is different and there is not a one-size-fits-all approach that works for every family. For many, having one or more family meetings to discuss the estate plan and wealth management, in depth, may make sense. In other cases, a full family meeting may not be advisable or desirable for various reasons. Much of this may depend on the family dynamics, the ages and financial maturity of family members and the concern over the need for continued motivation to achieve financial independence and career satisfaction.

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