Reducing the likelihood of an estate-related dispute

On Behalf of | Oct 21, 2019 | Estate Planning

Estate plans are a critical part of one’s life for a host of reasons. Not only do they ensure that the assets one has worked so hard to acquire are managed appropriately in the future, but they also account for how loved ones will be provided for after losing a close family member. Unfortunately, estate plans can lead to heated disputes that may drag on for a long time, even years after all of the assets of an estate have been distributed. There are many possible sources of contention when it comes to estate plans, but people can take steps to reduce the likelihood of such a dispute while creating a will or trust or making revisions to their estate plan.

For starters, it is critical to think ahead. Make sure that the decisions you make are appropriate, such as naming executors and deciding how your assets will be divvied up among beneficiaries. You may want to talk with your loved ones about your estate plan, or you may want to discuss these issues with one family member who is very close (such as a spouse or a child who you trust deeply). They may be able to offer additional insight into your estate and strategies to reduce potential sources of contention.

Probate disputes can be toxic, whether they involve pre-existing family drama (such as sibling rivalries that have been in place for decades) or they give rise to heated disputes between family members. Sometimes, people are unable to please everyone when it comes to the estate plan decisions that they make.