Talk with Your Family About Your Estate Plan to Avoid Potential Conflicts
When a loved one passes away, it’s somewhat common for conflicts to arise among beneficiaries regarding the deceased’s estate plan. In many of these cases, the conflict could have been avoided if the deceased had talked through the estate plan with his or her family in advance.
The most common issue is that children or other beneficiaries may feel blindsided when they do not get what they expected out of the estate. Although parents might feel they have good, legitimate reasons for not dividing their estate equally, or even specifically favoring one child over another, it could cause confusion if they did not discuss these reasons with their kids before their death.
It might not even be valuable parts of an estate that cause the most problems. Many arguments arise over items that have a lot of sentimental value, but not necessarily monetary value.
Communication is key
The best strategy is for parents to find a time at which the family can get together and have a meeting about the estate plan and why they made the decisions they did. This can also even give children a platform to let their voices be heard and possibly provide some input as to who gets what. By getting the entire family involved ahead of time, it is far less likely that there will be arguments or legal challenges after your death.
These conversations may not be easy or comfortable. However, the benefits they have far outweigh the potential discomfort they could cause, especially when you consider the potential for trouble in the long run.
For further tips on how you can discuss your estate planning wishes with your loved ones, meet with a skilled Tampa attorney at BaumannKangas Estate Law.