Knowing that you have planned your end-of-life affairs can remove some of the angst of growing older. Naming beneficiaries and having the peace of mind that those you care about will receive your assets can provide satisfaction and comfort.
Despite your best efforts, you may still have some family members who disagree about what you would have wanted after you pass away. While you cannot know for sure that inheritance disputes will never happen, knowing some of the common reasons they occur can help you to reduce the risks of them affecting your family.
An overarching cause of inheritance disputes is poor communication. While you certainly are not required to disclose every detail of your estate plan, providing a description of your end-of-life wishes can help your family understand your intentions. Encourage your family to ask questions if they need clarification on certain topics.
When writing estate planning documents, provide as many relevant details as possible. This decision may prevent confusion and give your family a clear picture of your plan for the execution of your estate.
You will need help closing your estate. In fact, leading up to your death, you may require assistance to make financial decisions or decisions about certain medical treatments. Roles such as a power of attorney, an executor and a fiduciary may all be a part of your plan. AARP suggests that you record your selections for management roles in a written document.
When your family knows who you have chosen to fulfill specific roles, they may not disagree about who should undertake which responsibilities. Your ability to establish roles and expectations prior to your passing may encourage everyone to support each other and offer help where needed. Working with an attorney to plan your estate can help you verify you have everything you need to give your family a clear picture of your desires.