If you have yet to experience a death in the family, you may not understand the heightened feelings that come from losing a loved one. When dealing with loss and mourning, disputes and unfortunate disagreements can occur during a sensitive time.
How do you ensure that family disputes will not be an issue after you die?
Tips for Avoiding Family Disputes After Death
It’s never too early to prepare for an unexpected death in the family. However, you do not need to be on your deathbed to confirm a will is in place and that your family will have what they need to support themselves.
Here are some tips for avoiding family drama after death:
· Estate Planning: Estate planning includes making all plans for your assets and special belongings before your death. Your will and any trusts are a part of your estate plans. You can specify who gets what, with detailed notes explaining why. You can also detail what you want to be done with your house or other properties.
· Trusts: Trusts are great tools in estate planning because they resume as normal after you die. You leave instructions for the trustee to divvy out the money and assets according to a timeline of the beneficiaries’ ages or accomplishments. For example, you can dole out an inheritance once the beneficiary graduates college.
· Liquidating Assets: Sometimes, it is easiest to liquidate the assets and divide the money in even disbursements to children and family members. Use a third party to list the assets for sale and come up with the final cash value.
· Choose Fairly: If your disputes are more likely over emotional value, you may put a plan in place about taking turns choosing family heirlooms. Or the owner of the items can choose which loved one gets which item and the meaning behind the decision.
· Use a Mediator: When things get sensitive and intense between family members after a death, use a mediator to help with communication. Working through a loss makes it more challenging to process stress and stay calm when fighting for a meaningful heirloom. A mediator will be able to express feelings without raising contention.
Miles & Hatcher, LLP, can take care of your estate planning needs so that you can ensure your family is taken care of after you die. Give us a call to discuss your options for creating a trust. Schedule an appointment by calling (909) 481-4080.