Don’t let money destroy your family

I recently read a news article online about how a family are at war because their late sister changed her Will two months before she died leaving her £825,000 fortune to her brother and his sons and not her sister and nieces. The lady in question doesn’t have children to leave her fortune to.

I think it’s such a sad state of affairs when the end of someone’s life is brought down to money. Even more so when it results in tearing a family apart.

Regardless of the reasons why this lady changed her Will two months before her death, I think it’s terrible that her family have fallen out with another over it.

Of course, I understand that they’re only human and that her money may well be life changing for them, but should you really allow money to come between family?

I think my husband and I are very sensible when it comes to money. We save what we can and we don’t tend to spend money unless we have to. That’s not to say that we don’t treat ourselves on occasion. We certainly have done in the past, but it’s a rarity.

With that said, I think it’s so important that we look to our futures and how our death may impact those we love.

One of the first things my husband and I did after the birth of our children was set up life insurance. I’m not talking a fortune. Just enough to cover funeral costs, bills and rent for a while should anything happen to either of us.

When my granddad passed away, I was so grateful that he had a pre-paid funeral plan in place. It took a great deal of stress out of what was already a difficult time.

I think it’s so important that you talk to your spouse, children, brothers, sisters and anyone else that your passing will have an effect on so that you can discuss what will happen, costs involved etc, as well as how you plan on sharing your assets with those you love. Not only does this mean that everyone is on the same page, it will also hopefully mean that your family won’t fall out with one another.

What do you think? Have you put any special measures in place to ensure your loved ones will be well looked after when you’re gone and to minimise any disruption/arguments? I’d love to hear your thoughts. Let me know in the comments below.