08/07/2025
In general, I agree that the adult children should know what is in a person’s will or trust before they die and if possible before they sign it so that the kids are aware of what is involved and it does cut down on fighting.
It does not eliminate fighting however because you will often have children who are unhappy with the distributions. This is especially true when there are step parents and stepchildren. If there is animosity between the adult children of the decedent and the step parent, even when they know what is in the will, there is often drama.
But Mr. Buffett is correct that it can help reduce the drama and maybe the adult children have a better way of doing things and the parent does not have to wrangle with how to make a distribution. The children will make that decision for the parent.
Buffet's collaborative approach has helped his family maintain strong relationships while managing the immense responsibilities that come with inheriting significant wealth.