ESTATE PLANNING DOESN'T HAVE TO RESULT IN FAMILY TENSION
Oct. 2, 2018
Family members may not view a will the same way as the person who wrote it. For instance, a son or daughter may believe that a parent left more for his or her siblings than for that child. Family members may also have a lack of trust for the brother, sister or other relative named the executor of the estate. Fortunately, there are ways that California residents can avoid these and other issues.
First, it may be a good idea to make sure that everything is accounted for when creating an estate plan. Ideally, this includes minor items such as a toy or decoration that could have sentimental value to anyone left behind. If parents choose to leave more for one child than another, there should be an explanation as to why this is the case. A direct conversation may prevent siblings from fighting with each other over their perceived unequal inheritance.
Those who are receiving money from a dying parent or spouse should get it in a manner that allows them to make the most of it. Younger children should not get their cash all at once as someone will need to manage it for them. However, spouses and other adult beneficiaries could benefit from getting their money quickly. This can be ideal for parents trying to avoid making statements about their children by how an inheritance is structured.
Parents or others who are determined to provide for others at their death may do so through an estate plan. Working with an attorney and having conversations with family members may make it possible to create a plan everyone can accept. Even if not everyone agrees with how it is structured, it may be enough to prevent a major family feud from erupting.