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You know the most common piece of advice I offer is communication is the best approach. It’s very important especially those with adult children that everybody has a clear understand of at least the general plan. Frankly, adult children want to make sure mom and dad have their affairs in order and it’s also important that everybody knows what role, if any, they have. And then, finally, if mom and dad or the family is willing to communicate their wishes with respect to disposition of the assets, less surprises in the end create the most efficient process. So communication overall is the best approach.
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Eden Prairie, MN Estate Planning Attorney David Ness shares strong advice he likes to give all his clients.