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Dividing an inheritance is rarely straightforward, but in blended families, the stakes and emotions can be particularly high.<\/p>\n
On a recent episode of The Ramsey Show, Jared from Phoenix, Arizona called in to discuss whether he should give some of the $3 million inheritance he received from his late father to his stepsister, since she wasn\u2019t happy about being left out of the will. He has already built a nest egg of roughly $750,000 for himself, so he felt guilty for denying her money that could potentially help her later in life.<\/p>\n<\/p>\n
\u201cShe got upset because of the numbers involved,\u201d recounting his stepsister saying: \u201c\u2018I don\u2019t understand why we can\u2019t all just share?\u2019\u201d<\/p>\n
Ramsey had a blunt response: \u201cBecause we\u2019re not communists.\u201d<\/p>\n
The situation highlights how difficult it can be to manage the expectations of your loved ones even if you have a simple estate plan in place.<\/p>\n
Jared described his father\u2019s estate plan as relatively simple on paper: both he and his brother received $3 million to $4 million each. However, the fact that his step-siblings have been left out of the will has ignited strong emotions and family drama.<\/p>\n
This isn\u2019t unusual \u2014 but at least the direction was clear.<\/p>\n
Tensions can be amplified if there\u2019s no plan at all. According to a 2023 survey by LegalShield, nearly 60% of Americans don\u2019t have an estate plan and 58% of people have experienced family disputes due to a lack of a plan.<\/p>\n
Families can have disputes even when there is an end-of-life plan in place. Of those that had wills, 36% of respondents said their will had surprises for their beneficiaries. Assuming some of these are unpleasant surprises, the potential for family drama is high.<\/p>\n
Seeking out the help of a professional wills and estates lawyer to proactively prepare a robust estate plan can mitigate some of these issues \u2013 though a study by Caring.com found that 13% of Americans believe that it\u2019s too expensive to make a will, while 12% find the process to be cumbersome.<\/p>\n
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