Inheritance disputes can cause undue stress for surviving family members and could potentially compromise the availability of benefits. People who wish to avoid costly contention after their death should prioritize communication while they are still alive.
Establishing an estate plan is a process that everyone can participate in. Families who communicate together and respect each other’s opinions can unite over a common cause.
Creating an estate plan takes time and is an ongoing process. People should begin coordinating their end-of-life affairs long before they anticipate needing them. Proactive planning allows families to collaborate, negotiate and compromise without the added pressure of critical decisions needing immediate attention. According to the World Executives Digest, people can avoid potential disagreements when they give themselves adequate time to plan.
Disagreements over what a deceased person would have wanted is one of the biggest reasons for many inheritance disputes. Bit Rebels suggests that people discuss their wishes with their family. Having an open conversation gives everyone the opportunity to understand each other and the intent behind specific decisions. When everyone has a mutual understanding of the function of an estate plan and the distribution of assets, they can focus their attention on comforting each other through the grief of losing a loved one.
If life circumstances change, people may need to modify aspects of their estate plan to keep it relevant to their situation. Whenever this happens, people should inform their family members of the changes to their plan to clarify what changed and why. They will also need to make all changes formal so they apply in a court of law.