Preventing Conflict Over Your Estate
Preventing conflict over your estate is something you want to consider while you’re planning your estate. Many people create an estate plan so that their wealth is distributed according to their wishes after they pass away. Creating an estate plan is the best possible way to reduce the likelihood that your family members will fight over your assets. If you have children, then you want to be sure they don’t have conflicts with each other over what you’ve left behind. In this article, our attorney Justin Stivers talks about how to keep your kids from fighting over your estate after you pass away.
Sibling Disputes and Probate
Losing a parent is a tough situation, no matter how old you are or how prepared you may think you are. Everyone handles grief differently and your children are no different. One child may feel anger, while the other is in denial of your passing. What needs to following your death can be a minefield of potential problems that you likely want to help them avoid. From making arrangements for your funeral to the administration of your estate, conflicts can arise and cause damage in their relationships with one another. Disagreements over your will could even lead to estate litigation which could potentially delay the settlement and drain the estate of any funds. Still, there are steps you can take to lower the odds of this coming into play.
Tips for Preventing Sibling Disputes
You can’t always make 100 percent sure that your children won’t have conflict after your passing, but here are some tips to help ensure that their conflicts won’t be about your estate:
Appoint a Neutral Executor
Choosing a neutral Executor, like a sibling, a long-time friend, or your estate planning lawyer, can help avoid family disputes. Getting a full health check before making your Will can defend against claims that you weren’t of sound mind.
Include Funeral and Burial Planning
Including funeral and burial plans in your estate plan can be beneficial. A funeral trust clearly states who will manage your funeral so that your wishes are carried out as you want them. This can prevent issues over the costs, the location of your burial, or even what you’re wearing for your funeral.
Avoid DIY Estate Planning Documents
Avoid using DIY estate planning documents because they can often have mistakes that could lead to legal issues. The wiser choice is to speak with an experienced estate planning attorney so you don’t miss any important details.
Create a Letter of Instructions
While a Letter of Instructions isn’t legally binding, it gives your family members a roadmap explaining the decisions you’ve made for your estate. This can help your children understand your method of thinking when you put your estate plan together and could help to avoid conflict.
Communicate Your Wishes
Talking to your children about your estate plan doesn’t have to be a difficult conversation. Let them know your thoughts about the wealth or assets you’ve accumulated and what should happen to them after you pass away. Revealing your plans can help your children understand where you’re coming from and hopefully prevent disputes later on.
Consider Adding a No-Contest Clause
A no-contest clause added to your Will will make certain that your beneficiaries don’t fight over your estate. It discourages them from contesting your Will by disinheritance, provided they stood to inherit something under the terms of your Will.
Reach Out To Our Team For Help
For more information on preventing conflict over your estate, we can help you craft an estate plan that meets the needs of your specific situation. Watching a free webinar will answer your questions and additional questions can be asked by reaching out to our team using our contact page or by calling us at (305) 456-3255.