Thinking about your eventual demise is not exactly something that people like to spend very much time doing. Despite this, planning for the future and the distribution of your assets to loved ones is necessary. Estate Planning is part of ensuring that your wishes are carried out. Further, making sure that they are carried out in the way that you would like. By creating a clear plan for your final wishes with an attorney, you can ensure that complications are mitigated before they arise.
You will want to make sure that your loved ones are able to look to your will as a roadmap. This helps settle your estate as swiftly as possible. Losing a loved one can be difficult for anyone to contend with. By having a will in place, they will have the ability to spend time grieving. Not deciphering how you would have liked your assets divided.
Contentious Familial Situations
At times, a family can become estranged from one another. Disagreements or tensions can complicate family relationships. Sometimes family members will fight over parents’ possessions. This can range from money, to valuables but also family heirlooms. Grief can cause people to behave irrationally. They may be looking to hold onto things you once held dear. This is a common way for them to keep your memory alive. By having an attorney draft your will, you can have a clear path to guide loved ones after you pass away.
Here are some examples of situations that cause family feuds when a loved one passes away:
Giving a beneficiary a portion of their inheritance before you die but not others in your family who stand to inherit assets. Be clear in your will if this was actually the case.
You may want to make sure that you identify only one person to hold the responsibility of the trustee. By appointing two or more people to manage your will increases the risk of conflict.
If you are married a second time, or later in life, you will want to outline clearly who stands to inherit what. ALWAYS update your estate plan or will after any changes in marital status.
You will want to make sure that you are clear which of your assets can be sold. Further, be clear if something should not be sold. Family members who are in need of money may sell things that you would prefer preserved.
If you have disinherited someone within your family such as a child, you will want to make sure that your will is as updated as possible. It is possible for someone who has been left out of a will to challenge it in probate.
If the will being created is for an elderly member of your family, you will want to make sure that they are not swayed or manipulated into leaving someone an inheritance who is taking advantage of them.
Substance abuse or a mental health disorder may cloud a person’s judgment. They are also more likely to sever ties with family members. This may cause conflicts on estate matters.
Your Last Will and Testament and Complicated Family Dynamics
An attorney can serve a number of purposes when it comes to your will. Some people may even appoint an attorney to help manage the estate or act as executor after passing away. This can prove to be beneficial in situations where family dynamics are complicated. Having a professional, who is impartial, can help ensure that your wishes are carried out in the way that you would have liked. An attorney may even be able to help families navigate challenging familial situations when dividing your assets and carrying out your final wishes. If you need any legal help regarding wills, contact Wills and Trusts Lawyer Scottsdale AZ and locals for any information.
Thank you to Arizona Estate Planning Attorneys for providing insight on the importance of having a will in place.