THE RIGHT THING / JEFFREY L. SEGLIN: Despite the price, sister owns car

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THE RIGHT THING / JEFFREY L. SEGLIN: Despite the price, sister owns car
2006-08-14
As older people's health begins to falter, often their adult children must step in to manage their financial affairs. The more complicated the situation, the more challenging it becomes for multiple siblings to sort things out so their parents are cared for and so that whatever assets remain after both parents die are distributed fairly and according to the parents' wishes. As many adult children know firsthand, caring for an ailing parent can be an exhausting, time-consuming endeavor. It's easy to get caught up in the concerns of the moment and not look ahead. As a result, some details of how parents wanted their assets to be handled may not have been discussed thoroughly enough to avoid confusion or strife among sibling heirs. If the siblings have a good relationship, such details can be worked through with little acrimony -- "You take the china, I'll take the silver." But when sibling relationships are strained, minor details can escalate into painful controversies.
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