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When Wealth Cuts Close Family Ties

Inheritance IssuesThe family is a home, the place where you feel unconditional love and acceptance. But when loved ones, once so close with one another, begin turning on one another, the home becomes a place of hate and resentment. Often, the culprit behind it is wealth, money that older generations just can’t seem to pass down and distribute fairly among their kin.

Although families can sort out these issues with the legal assistance of firms like Littleton Alternative Dispute Resolution, Inc., they should be wary of the warning signs of brewing conflict due to inheritance issues, and keep it from cutting close familial ties.

An Age-old Problem

Money can be many things: a status symbol reflecting prestige, an indicator of abundance, or the root of envy and resentment among wealthy clans. Psychological findings list money as one of the main reasons for siblings and parents to stop talking to one another. The differences between how the younger and older generations handle money, and possibly, biases among elders who play favorites, trigger these disputes.

Issues about inheritance are an age-old problem, dividing families for centuries. Today, some of them have gone far beyond the silent treatment, committing sinister crimes over a sum of money. Recently, two Australian sisters made the headlines after hiring a murderer to kill their brother, an heir to the $281K family fortune. This and many other similar cases demonstrate how divisive wealth can be.

Solutions

Disputes because of money may largely be due to each member’s unique temperament and view of money. To solve them or keep them from happening in the first place, it’s important to watch out for early signs of a brewing conflict.

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Sibling rivalry is an obvious indicator of possible fights due to inheritance issues. This gives way to a host of other problems like one sibling doing most of the caretaking for elderly parents and, eventually, estrangement. Avoiding this involves reaching out to the parties concerned and having an open discussion about the problem at hand.

You may want to enlist the help of a mediator or try initiating the peace-making yourself. The bottom line is, only by being a transparent, loving, and truly close-knit family can you prevent wealth, or anything else, from getting in the way of your relationship. Don’t let one family member turn on the other; turn to each other instead.

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