Bay Area Estate And Tax Planning Law Firm

Avoiding family feuds is possible with a good estate plan

On Behalf of | Jul 2, 2018 | Uncategorized |

When you have several heirs and people who could potentially question your will, the best thing you can do is to create a strong estate plan and to discuss it with those who are to benefit from it. You may already understand that estate plans are there to provide guidance following your death, but you probably also realize that someone could question your ability to make sound decisions.

To avoid family feuds over what you leave behind, it’s a good idea to start your estate planning early and to make sure you have witnesses to verify your actions. For instance, you may wish to also include a medical document stating your health, at that point, with the estate plan to guarantee that no one challenges it in the future.

What can you do to avoid trouble over your assets?

To avoid trouble from beneficiaries who feel slighted or angry, you should always do as mentioned above and make an estate plan when you are of sound body and mind. You need to seek out legal advice that is independent of any ill influences, so you can guarantee the decisions you made were yours and yours alone.

To further help yourself, make sure you choose an executor carefully. You’ll want to choose someone honest and intelligent. This needs to be someone who knows when to ask for help. If you choose someone who is not willing to ask when he or she has questions or who is inept at performing his or her duties, it could lead to more problems down the line.

Finally, take note of any lifetime gifts, loans or advances you gave to individuals. For instance, if you lent $40,000 to your son and he is shocked when the will gives him $40,000 less than his sister, your mention of the previous loan could help explain the discrepancy and help avoid hurt feelings and fights. Also state whether or not you want any loans you gave out forgiven upon death. If you don’t want them forgiven, then you need to state how they’re to be repaid.

These are just a few things you can do to help avoid family feuds over your estate when you pass away. Losing a loved one is already hard, so take the time to make the estate plan as smooth as possible. An easy transition is best for everyone involved in the situation.