Just like most people keeping their finances private, the same goes with planning inheritances. No one wants to be perceived as a greedy vulture, especially when a loved one is ailing in health. It is so important to plan for this possibility to minimize lifetime taxes. While it is uncomfortable, you should discuss and plan for these possibilities so you make other long term decisions. I inherited a large IRA but had already locked in deferred compensation payments over the same 10 year period. This locked me out of tax favorable Roth Conversions. I had to drastically change the plan to adjust.
Just like most people keeping their finances private, the same goes with planning inheritances. No one wants to be perceived as a greedy vulture, especially when a loved one is ailing in health. It is so important to plan for this possibility to minimize lifetime taxes. While it is uncomfortable, you should discuss and plan for these possibilities so you make other long term decisions. I inherited a large IRA but had already locked in deferred compensation payments over the same 10 year period. This locked me out of tax favorable Roth Conversions. I had to drastically change the plan to adjust.