Whenever there are any assets to divide after a person passes away, there is the great possibility for tensions and squabbling among beneficiaries. If you worry that your loved ones may fight over an inheritance, there are some concrete steps you can take to combat this possibility.
The most basic and effective way to fight inheritance disputes is to create a legally binding, clearly understandable will. The public recently was shocked to learn that musical legend Prince died without a valid will. Now, over a year after his untimely death, his survivors are still fighting over his estate. If you have any assets of value at all, you absolutely must make a will to protect the ones you love.
Of course, if you want to minimize the possibility of conflicts over inheritance, it’s not enough just to make a will. You must ensure that it is legally enforceable and that its provisions are fair. While you cannot control how each of your beneficiaries react to the inheritance they do or not receive, you can be very intentional about creating a division of assets that treats each beneficiary as fairly as possible and takes into account the personality and preferences of each individual. After all, a will is not just about your end-of-life wishes and deciding who gets to keep your car — it’s about establishing a legacy that may affect relationships of the ones you love for years to come.
If you are ready to create a well-crafted, loving will that respects the individuality of your heirs, do not hesitate to reach out to an experienced attorney who understands how to protect your wishes as well as your rights.
Source: FindLaw, “3 Tips for Avoiding Inheritance Disputes,” Christopher Coble, accessed May 26, 2017