Can Estate Planning Reduce Family Conflicts After I’m Gone?

While people tend to focus on the financial benefits of estate planning, many overlook the emotional advantages. The truth is that without an effective estate planning strategy, you might leave behind arguments and disputes rather than wealth. The last thing you want is for your family members to fight with each other after you’re gone – but how does estate planning prevent this?

How Does a Solid Estate Plan Prevent My Family From Bickering? 

To understand why estate planning prevents disputes, you first have to understand why arguments arise in the first place. Generally speaking, people tend to bicker whenever they see things differently. If something can be interpreted in many different ways, people will inevitably argue that their interpretation is correct.

If an estate plan can be interpreted in many different ways, the same logic applies. For example, someone might pass away with an extremely vague Will. One family member might argue that their father meant that assets should be handled in one way, while another family member may have different ideas.

Overly complex Wills can be just as problematic as vague ones. Perhaps the decedent used awkward wording that leaves the entire family guessing. Perhaps the Will is filled with errors that make the overall message difficult to understand. Maybe they used complex technical, archaic, or nonsensical words. These types of Wills can easily spark disputes among family members.

Dying Intestate Can Easily Spark Disputes 

When someone passes away without a Will, this is called “dying intestate.” Although a vague or complex Will can certainly cause disputes, the complete lack of an estate plan can lead to some of the most heated arguments imaginable. In this situation, the family has to rely on the Intestacy Statute which contains a set of “one size fits all” instructions as to who gets what from the estate.

Of course, dying intestate also robs the family of all control. If there is no Will, the court follows intestate succession – distributing assets according to a preset statutory formula. This could cause assets to fall into the wrong hands – such as those of an estranged spouse. The bitterness and resentment triggered by this outcome may ripple through the generations of a family for the foreseeable future. Alternatively, an incapacitated special needs child might inherit assets outright, leading to a loss of benefits which took many hours to obtain.

What Is the Easiest Way to Avoid Family Disputes After I Pass? 

The first step is to create a clear, effective estate plan alongside an experienced lawyer. Avoid writing your own Will or experimenting with online “DIY legal apps.” Next, consider discussing your decisions alongside your entire family. Describing your decisions can help clarify your position on key issues, potentially reducing conflicts in the future. Finally, consider the unique personalities in your family and think about how they get along with each other before deciding who to put in charge.

Can an Estate Planning Lawyer in Stuart Help Me Reduce Family Disputes? 

An estate planning lawyer in Palm Beach or Martin County may be able to help you reduce family disputes with various strategies. A simple Last Will & Testament goes a long way, but families might also want to consider trusts, powers of attorney, and other tools. Each family is different, and an online article cannot provide you with personalized advice. In contrast, you can discuss your specific situation alongside a lawyer. Reach out to Kitroser Lewis & Mighdoll today to learn more.

Sources: 

investmentnews.com/retirement-planning/lack-of-estate-planning-leads-to-family-feuds-study-shows/240734

forbes.com/sites/learnvest/2015/02/19/family-feud-6-stories-of-problematic-estate-planning/