Warren Buffett advises parents — no matter their wealth — to have mature children read their will before signing it, to avoid confusion and family disputes, he says.

Warren Buffett, the longtime chairman of Berkshire Hathaway, told parents to show their mature children their will before signing it, saying openness can prevent pain and family fights after a parent’s death.

In a Berkshire Hathaway news release announcing recent gifts of stock to family foundations, Buffett wrote: “When your children are mature, have them read your will before you sign it.” He added that parents should make sure each child understands the reasons behind decisions in the will and the responsibilities they will face after the parent dies.

Buffett gave this practical tip while describing his own approach to estate planning. He said he listens to questions and suggestions from his three children and often adopts changes he finds sensible. He also noted that he updates his will every couple of years and tries to keep his plans simple to avoid confusion.

Why Buffett thinks this matters: he wrote that poorly explained wills have driven families apart, while wills that were fully discussed before death sometimes brought families closer. In short, telling heirs what to expect — and why — reduces the chance they will ask “Why?” when a parent can no longer answer.

Estate-planning advisers who reviewed Buffett’s advice told financial outlets it echoes common best practice: clear communication about inheritances and duties often lowers the chance of disputes and costly legal fights later. Experts say a frank family conversation — or meeting with a lawyer or mediator — can avoid the hurt and guessing that follow confusing instructions.

Swift, simple steps parents can take now (in Buffett’s spirit)

When your children are adults, show them the will before you sign it.

Explain the reasons for major decisions (who gets what and why).

Invite questions and be willing to adjust parts that make sense.

Keep the will simple and review it every few years.

These steps make estate plans easier to follow and reduce the chance of surprise, resentment or court fights after you are gone. They are straightforward and do not require wealth — Buffett said his suggestion applies “whether [parents] are of modest or staggering wealth.”

Where this came from: Buffett’s words appear in Berkshire Hathaway’s Nov. 25, 2024 news release and related shareholder materials. Read the company statement for the full text.