Berkshire Hathaway CEO Warren Buffett has some important advice for all parents, regardless of their wealth.
He recommended that grown children be allowed to read their wills before signing them.
Buffett noted that children need to be explained not only the decision made, but also the responsibility that will fall on their shoulders after the death of their parents, CNBC News emphasizes.
The billionaire also stressed that children should have the opportunity to ask questions while their parents can answer them and take into account the available suggestions.
In his opinion, open dialogue with children will help avoid misunderstandings and conflicts in the future.
Buffett recalled that wills often become the cause of disagreements in families. This happens when children do not understand the logic of the division of the inheritance.
According to experts who support the billionaire's position, parents should discuss the possible distribution of shares of the inheritance in advance in order to avoid resentment among children.
