When creating an estate plan, the last thing you want to think about is the fact that your loved ones may not see eye to eye upon your death.
Even if you don’t expect this to happen (most people don’t), there’s always the potential for things to take a turn for the worse.
There is no shortage of factors that contribute to family discord after a loved one’s passing. Here are some of the most common reasons:
- No estate plan
- Children from more than one marriage
- Leaving a child out of your estate plan, but including others
- Estate planning documents that are lost or a challenge to decipher
- More than one estate plan, such as multiple wills
- Incomplete estate planning
- A family business with no succession plan
- Lack of communication to your loved ones, outlining your wishes
As you can see, there are many factors that could result in a family dispute upon your death.
So, there’s only one thing you can do: protect against these concerns by creating a comprehensive estate plan and ensuring that all your family members are on the same page.
For example, if you have more than one will, it’s critical that you eliminate those that are no longer valid. Neglecting to do so can result in confusion and arguments upon your death.
And of course, if you don’t have an estate plan, don’t hesitate to create one. Even if it only touches on the basics, it’s better than nothing at all.
There’s no guaranteed way to protect against a family dispute, but there are steps you can take to eliminate the chance of this happening.
If you have questions about estate planning and how to reduce the risk of a dispute upon your death, contact us for more information, guidance, and advice that will put your mind at ease.