Discussions with siblings about money-related issues can be fraught. Here are some tips from wealth coaches and financial advisers on how to tackle some of the potential obstacles.

Siblings

Focus on your common interest. You may share more than you realize, said James Grubman, a psychologist and founder of FamilyWealth Consulting . “The sibling relationship is the longest-running one in our lives,” he said. “So you have to remain focused on the fact that repairing and preserving the sibling relationship is an interest that is part of the communication.”

Set up family conversations. Hire a financial adviser or other professional to mediate and facilitate these talks, Mr. Grubman said. If the issue is a particularly combative one, appointing an unbiased person to run the show can help keep conversations on track. This approach also allows an adviser to listen to and recognize all the sibling viewpoints, and potentially create a broad plan that tackles everyone’s concerns.