Estate plans are usually set up to make sure that members of any family are catered to when a loved one dies. However, there are unfortunate moments when there are disputes involving inheritance and this leads to wars and violence among family members. Family estate disputes result due to several things and can be prevented by ensuring that family members live in harmony even when a loved one dies. In case you are planning to draft a will. You must make sure that you do all you can to ensure that your family does fight after your death due to disagreements on how the property you leave will be distributed. However, you must make sure that you learn the several causes of will disputes to ensure that you do all you can to prevent this issue.
Tips for preventing will disputes
- Setting up a comprehensive estate plan in time
One of the mistakes that most people make is failing to set up a comprehensive estate plan. Most people and especially young adults do not set up estate plans since they think that they do not require the estate plan immediately. However, the best time for you to set up an estate plan is when your body and mind are sound. In case one gets sick or old, communicating effectively becomes difficult which means that when you draft a will in such a situation, there will be disputes when you die.
- Having a living trust
The other thing that can help you avoid having will disputes is when you utilise a revocable living trust. Revocable living trusts are legal documents that put financial assets and property into a trust administered for the benefit of an individual for a lifetime.
When the individual dies, all the assets and properties in the living trust are transferred or either held in a trust. Thereafter the assets are distributed to the beneficiaries named in the trust according to the terms of the documents. This makes sure that there are no disputes when it is time for your beneficiaries to get their share of your property.
- Talk to your loved ones about your plans
Most people have a very hard time when talking to their loved ones about their death. However, you need to talk about your plans when it comes to property and inheritance distribution when you pass away. Clear and open communication ensures that your loved ones understand why you wish to distribute your assets to the individuals you have selected.
- Have a separate but signed explanation letter
When you complete your trust, you should take some time and write a letter then sign it to explain the decisions that you have made about your inheritance and properties distribution.
This ensures that they know that whatever the terms of the distribution are, they are acceptable and nothing can change them.
- Avoid including beneficiaries while drafting your will
Most people tend to include their beneficiaries when they are drafting their very wrong will. You might involve somebody and then when you are dead they will be accused of unduly influencing you in the process. Instead, you should look for a family lawyer who specialises in real estate planning and let them provide you with the help that you need in the will drafting process.
- Have a psychology examination
You must go for a psychological examination to ensure that there is proof that you did all you did when you were sound of mind and body. When you do this nobody will question your sanity when they get your will.
At times you have control of how your loved ones will react when they get the will you leave behind. You will determine whether they will have some will disputes among them or they will coexist in peace and harmony. Theodore, you must do all the above things to ensure that you prevent any will disputes that may arise.