For one-fifth of polled Americans, disputes at holiday gatherings lead to estate planning fallout

For one-fifth of polled Americans, disputes at holiday gatherings lead to estate planning fallout
Survey by Trust & Will reveals the touchiest subjects for families, and how conflict dynamics differ according to age and region.
NOV 27, 2024

Holiday gatherings are often a time for families to reconnect, but a recent survey from Trust & Will reveals they can also become a flashpoint for disputes with lasting consequences.

According to the survey conducted between November 6 and November 8, in the immediate wake of the presidential election, nearly two-fifths (40 percent) of families report experiencing open disagreements during holiday celebrations.

Notably, one-third of these conflicts lead to lasting grudges, and nearly 20 percent of respondents indicated that such rifts have resulted in changes to a family member’s will or estate plan.

The survey of 500 individuals found that politics, especially in a post-election environment, is the most common source of tension, cited by 34 percent of respondents. Other leading causes include past family grievances (32 percent), relationships (25 percent), finances (25 percent), and parenting (17 percent).

While sensitive topics such as inheritance or family heirlooms may end up being the proverbial elephant in the room, 38 percent of respondents admitted that holiday conversations sometimes touch on these issues, even in lighthearted ways.

Despite the challenges of interpersonal tensions and navigating family dynamics during reunions, Cody Barbo, CEO of Trust & Will, argued that the holiday season open a window to address sensitive topics constructively. 

“The holidays are a great opportunity to have meaningful conversations about your legacy and intentions,” he said in a statement revealing the findings. “We encourage families to take a thoughtful, long-term perspective, focusing on what truly matters, rather than letting temporary emotions shape important decisions.”

The survey also highlighted differences in holiday conflicts based on demographics. Millennials were most likely to cite relationship issues as a focus of holiday conversation (37 percent), while Baby Boomers pointed to politics (36 percent). Past grievances, meanwhile, were a source of consternation for 40 percent of Gen Y and 32 percent of Gen X.

Regional factors also shaped tensions: respondents from the West were most likely to identify finances as a source of arguments (34 percent), while political discussions dominated in the Midwest (38 percent). In the Southeast, relationships and love lives were cited most often (37 percent), while parenting concerns were a primary trigger in the Northeast (30 percent).

Latest News

Federal judge dismisses Eltek manipulation lawsuit against Morgan Stanley Smith Barney
Federal judge dismisses Eltek manipulation lawsuit against Morgan Stanley Smith Barney

Nine-month electronic trading freeze and share lending program at the center of dismissed claim.

RIA wrap: Dynamic strikes South Carolina deal to reach $7B AUM milestone
RIA wrap: Dynamic strikes South Carolina deal to reach $7B AUM milestone

Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.

Rethinking diversification amid a concentrated S&P 500
Rethinking diversification amid a concentrated S&P 500

With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.

Merrill pays second settlement to former Miami Dolphins player, client of ex-broker
Merrill pays second settlement to former Miami Dolphins player, client of ex-broker

Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.

Schwab touts AI as its biggest growth lever at investor day
Schwab touts AI as its biggest growth lever at investor day

The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline