Even if you extensively plan for your estate, problems can still arise. Having a living will, creating a power of attorney, describing all of your assets in detail in your will, and even putting some assets in a trust may not be enough to avoid misunderstandings and disputes.
When you are planning for your estate, your wishes matter the most. If you believe that your business should go to your niece rather than your daughter, it is your right to provide for that outcome. Most estate planning attorneys would advise discussing this matter first with both parties, but ultimately, it is your right to choose how your assets are distributed.
The easiest way to avoid a dispute after you are gone is to ensure that your heirs know how you want your estate distributed. In addition to ensuring that there is no confusion regarding your wishes, discussing your plans with your heirs and addressing their objections to your plan they may help avoid ill will when your assets are distributed.
There is More To Dividing Assets Than Designating an Heir
Sometimes, it is important to consider not just who will receive your property, but what they will do with it. If you pass your home to one of your children and he wants to sell it, another child may take issue with that, even if she is fine with her brother owning the property.
Although you cannot ensure that your heirs will do what they say they will with your assets after your death, discussing these issues with all of your heirs together can prevent future disputes among family members. Such discussions give your heirs an opportunity consider what they might do with your assets after they inherit them and allow you and other family members to provide input on issues each feels strongly about.
Your Heirs May Change Their Minds
Even where plans have been discussed in advance, your heirs may change their minds about their intentions for your assets. For example, an heir may decide to sell the family home she previously said she would keep because maintenance costs were more than she anticipated.
You can address such changes by adding flexibility to your estate planning instruments. Adding provisions for resolving disputes and including options for alternative dispute resolution can assist your heirs in working through issues that may arise months or years after your death.
Disputes Don’t Have to Ruin Family Relationships
If you are a beneficiary in the midst of an unforeseen estate dispute, it is possible to both resolve the issue and preserve your family relationships. We can help work through these complicated issues in a way that makes healing possible. Our experienced legal team has helped many families arrive at a fair outcome and move forward. Contact us today to find out more.
