Estate planning is a crucial aspect of ensuring a smooth transfer of wealth and assets to loved ones. With over $124 trillion expected to be passed down in the US through inheritance over the next few decades, it’s essential to navigate some of the thorny questions surrounding estate planning.
Amy Castoro, CEO and president of The Williams Group, emphasizes that many families focus on preserving wealth and tax strategies, but overlook the importance of relationships. “The biggest risk is often the family itself,” she notes. Castoro stresses the need for a focus on building family trust and communication, as well as teaching heirs valuable life skills like kindness and care for others.
According to Castoro’s company, only 5% of people’s time should be spent on the mechanical side of estate planning, such as financial calculations. Instead, 60% should be dedicated to building family trust and communication, while 25% should focus on preparing heirs for their responsibilities. Only 10% of time should be spent on discussing values and mission with loved ones.
The consequences of neglecting these aspects can be severe. A lawyer in Denver, Lewis Osterman, recalls a case where his clients’ disagreement over who should inherit a vacuum cleaner resulted in $3,000 to $4,000 in attorney fees. “It’s not just about the assets,” he emphasizes. “It’s about how much fighting can they afford?”
By prioritizing family relationships and trust, families can avoid such costly conflicts and ensure a smoother transition of wealth and values. As Castoro says, “It’s not just about the vase – it’s about did they feel loved?”
Source: https://www.npr.org/2025/06/06/nx-s1-5423758/navigating-some-of-the-thorny-questions-of-estate-planning