Warren Buffett Warns Parents About A Common Mistake: 'You Don't Want Them Asking Why' – Here's What He Means

Warren Buffett’s latest advice isn't about stocks or investments – it's about something much closer to home: your will. The "Oracle of Omaha," who has built an astonishing $150 billion fortune, wants parents to take an unorthodox but deeply practical step – let your kids read your will before you sign it.

In a press release, Buffett urged parents to ensure their children understand the reasoning behind inheritance decisions and the responsibilities that will fall to them. "Be sure each child understands both the logic for your decisions and the responsibilities they will encounter upon your death," he wrote. 

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He also recommended taking time to listen to any feedback. "If any have questions or suggestions, listen carefully and adopt those found sensible. You don't want your children asking ‘Why?' in respect to testamentary decisions when you are no longer able to respond."

Buffett's advice couldn't come at a better time. A staggering 68% of Americans still don't have a will, according to a Caring.com survey. Among those who do, many fail to discuss their plans with their heirs. 

That's a recipe for disaster. Estate disputes can get ugly, with sibling feuds accounting for 44% of inheritance battles, often over misunderstandings about how assets are divided.

Financial planner Douglas Boneparth, founder of Bone Fide Wealth, agrees that these tough conversations are critical. "Kids' imagination can run wild with what they think they should be getting," Boneparth said. 

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By being transparent, parents can avoid leaving their children with unrealistic expectations – or worse, unpleasant surprises. "These are meaningful discussions and, when done right, can strengthen family relationships."

Buffett has seen what happens when clarity is missing. He recalled witnessing families unravel after vague or seemingly unjust wills left beneficiaries confused and resentful. Childhood slights, real or imagined, often resurface, turning simple inheritances into battlegrounds.

What if the inheritance isn't evenly split? Financial experts say it's essential to explain why. Perhaps one sibling received financial help with a down payment on a house or attended an expensive college. 

Maybe another sibling struggles with financial discipline and needs their inheritance distributed through a trust. Whatever the reason, parents should address it openly to avoid accusations of favoritism.

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Carolyn McClanahan, founder of Life Planning Partners, suggests an even more collaborative approach. If one child is financially stable, parents might discuss leaving more to a sibling in need."

"You could say, ‘Do you care if I leave more to your brother? He's an artist and could use the help,'" McClanahan explained. These conversations can prevent resentment while building understanding.

But there's a caveat. In rare cases, McClanahan warns, full disclosure can backfire – like when a child has a history of financial exploitation or irresponsibility. In such instances, parents might hold off on sharing details and instead write a letter explaining their decisions to be read after their passing.

Buffett summed it up best: "There is nothing wrong with my having to defend my thoughts. My dad did the same with me." His message is clear – start talking.

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