Warren Buffett Talks to His Kids About His Will. You Should Too.

The billionaire investor has a simple estate-planning suggestion for parents. It’s one that lots of us would rather ignore.

Warren Buffett wants you to talk to your family about your will.

The legendary stock picker, 94, shared his strategy this past week for how to pass wealth on to the next generation while minimizing family conflicts. His advice is applicable, he says, even if you aren’t a billionaire like he is.

Buffett offers a simple but often overlooked estate-planning suggestion for parents: “When your children are mature , have them read your will before you sign it,” he wrote. “Be sure each child understands both the logic for your decisions and the responsibilities they will encounter upon your death.

Sharing and discussing the contents of a will can be emotionally difficult for parents and adult children. Many feel uncomfortable talking about money and death. And parents often fear disclosure could conflict among their children. Not sharing your estate plan with your adult children can leave them unprepared to handle a windfall.

Call W. Bailey Smith “the Trust Dr.” at (949) 833-8891 to get a free review of your current estate plan. He has created over 8,000 trusts.