How to Prevent Your Children from Fighting Over an Estate?

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How to Prevent Your Children from Fighting Over an Estate?

It happens frequently, whether the recently passed wants it to or not, but your family is likely to fight over your estate. With a good estate plan, money and property is divvied out fairly, but what they tend to fight over is the stuff. Your computer, TV, furniture, and sentimental items are all common causes of arguments. This is painful to think about, but more painful is the fact that some of your most sentimental items may get sold or go to someone unworthy of them. So how do you prevent these fights?

Start by asking your heirs what of yours they would want. Some of your children may have formed a bond with a particular object that you are otherwise unaware of. Wouldn't it be nice to know what they want?

The next step is to make a special gift list. If your estate plan includes a living trust, then you can make a list of special gifts and who you want to receive them. All you need to do to make it official is to date it and have it notarized. If you need to change it, then putting the date and having it notarized again is all you need to do. If your list ends up being quite sizable, it might be better to create a separate list for each person just to ensure clarity.

If you are not sure who to give some items to, you simply need to write down that they have sentimental value and request that they be kept and not sold by your heirs. Most children will respect your wishes and typically if they know it is meaningful, they won't fight over it.

If you are starting the estate planning process and want to make sure that your children aren't left fighting after you are gone, contact us today.

Categories: Estate Planning
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