Estates Made Simple
Welcome to the “Estates Made Simple” Podcast, hosted by Gordon VanderLeek, a licensed lawyer specializing in wills, estates and trusts, and Jenna Carvalho, an estate and trust consultant with over 10 years experience helping families secure their assets and plan for the future. We are a bi-weekly podcast that discusses the complicated and often confusing world of estate administration. Our goal is to provide you with the insight, knowledge and resources to help you navigate this complex process. Every episode we bring our unique perspective to provide listeners with unbiased information and practical tips to ensure success and mitigate risk. Even if you are not an executor, there will be topics of interest as you consider planning options for your own estate. Join us for helpful tips and important information on navigating estate administration so you can achieve peace of mind as an executor or administrator.
Estates Made Simple
Should You Tell Your Kids What They’re Inheriting?
Episode Summary
In this episode, Gord and Jenna explore one of the trickier conversations in estate planning: should you tell your children what they’ll inherit?
While disclosure will happen eventually during estate administration, the question is whether discussing the inheritance while you’re still alive helps or hinders family harmony. Gord and Jenna break down the pros and cons, including how preemptive communication can prevent legal challenges and protect family relationships.
Key Topics Covered
- The Timing of Disclosure
When is the right time to tell your kids? Jenna shares why earlier, values-based conversations may help reduce conflict and increase understanding. - Litigation Risks
Gord explains how surprises can lead to hurt feelings, confusion, or worse—estate litigation. A simple family conversation can go a long way in avoiding costly disputes. - Managing Unequal Distribution
If one child is receiving more (or less) than another, having a rationale shared while you're alive can help prevent resentment and misinterpretation of your intentions. - Stewardship and Education
Transparency gives children a chance to understand and prepare for managing wealth responsibly. Jenna suggests using small gifts as a "test run" to gauge how they’ll handle larger inheritances. - When Trusts Are Involved
Trusts for adult children can feel restrictive if they don’t understand the purpose. A clear explanation while the testator is alive can frame the trust as a tool for protection rather than control. - Planning vs. Secrecy
Gord outlines how failing to inform your children can create confusion at the worst possible time—during grief. Communication, even if it’s high-level, reduces stress during estate administration.
Practical Takeaways
- Start early: You don’t need to share exact numbers, but general expectations help.
- Use conversation to educate: Talk about values, work ethic, and goals—not just money.
- Prepare your executor: Whether they’re a child or not, make sure they’re aware and ready.
- Use your advisors: Lawyers and planners can help facilitate family meetings.
- Revisit regularly: Families, assets, and relationships change—so should your communication plan.
“Estate surprises may sound fun, but they rarely end well. Talk to your kids. It’s the gift that keeps on giving.”
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Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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