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Estate planning: Worrying about playing favorites might not help

Many individuals in Massachusetts and elsewhere may face a variety of difficult decisions while attempting to develop a strategy for the future. For parents who have multiple children, choosing who will manage their affairs when the time comes may seem an intimidating task. Those who wish to gain insight into how to make informed decisions about each of their estate planning options could benefit from seeking guidance from someone with experience in the area.

When it comes to choosing a person to manage one's estate, experts indicate that it might not always be possible, or even preferable to attempt to be equal. However, parents may worry that choosing one child to handle their affairs could leave others feeling left out or mistreated. Worrying that such a decision could create a rift among siblings could lead some parents into delaying the estate planning process or forgoing it altogether.

In some cases, parents may also consider attempting to delegate responsibilities to each of their kids. While this could prove helpful in certain scenarios, it might not always be a viable solution. Parents may also have the option to choose another party to take on these responsibilities, such as a family member or friend, or even a professional trustee.

With a multitude of factors to address and a variety of difficult choices to make during the estate planning process, seeking advice early on could prove essential. By consulting with an attorney, a person in Massachusetts could obtain much-needed guidance in making informed decisions about how to choose someone to manage their affairs. An attorney can address all a client's wishes and concerns and assist in forming an estate plan with his or her preferences for the future at heart.

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