November 14, 2024 / Press
Neil Solarz Shares Estate Planning Steps to Make the Process Simpler for Heirs in Wall Street Journal
Neil Solarz recently spoke to Wall Street Journal about important steps everyone should take in order to plan ahead and make their estate as simple as possible for their heirs.
Neil tells WSJ that striving for conflict avoidance is one of the most vital components of ensuring a smooth and easy process for your children. He explains that choosing one child over another to serve as executor or trustee or both can be a surefire way to create conflict amongst siblings.
Therefore, Neil recommends that parents select a relative or friend as executor or trustee rather than one of their children in most cases. If no other relative or friend is available, Neil outlines hiring a trust company or a private professional fiduciary, who are vetted and licensed to act as trustees or executors, as an option to avoid conflict and stress for heirs.
Read the full article in Wall Street Journal (subscribers only).