“We are in new territory when we consider the psychological dimensions of estate planning. Although we take for granted the legal machinery of wills and trust-making, there is no guidance generally available to help parents investigate their feelings about passing their wealth along. We may be slow in coming to the notion that the emotional issues of estate planning deserve as much attention as the legal and financial ones. Dennis Pearne, a wealth counselor in Boston, Massachusetts who works with affluent clients, observes, ‘Parents need to explore their feelings about passing their wealth. Hidden emotional currents harm a family the most.’”
Passing Wealth Along to Our Children: Emotional Complexities of Estate Planning, Trio Press/The Inheritance Project, 1998.