When planning your estate, you can reduce the chances of family members warring over your assets. It’s sad to think that people who should come together to grieve the loss of a loved one can start feuding over stuff even before planning the final service.
Taking the time to plan can help keep the peace so your loved ones can come together rather than pull further apart. Continue reading to see five ways estate planning can promote family togetherness.
Make Your Wishes Known
One cause of friction after the death of a loved one is uncertainty as to who gets what. You can eliminate this point of contention by answering that question in writing.
When meeting with a lawyer to do estate planning, you can decide who gets what, so there’s no confusion or grounds to dispute your wishes. While some people may still be upset, the fact that you clearly stipulated what you want will lower the odds of legal challenges that make the situation worse and possibly cause long-term discord.
For most reasonable people, a legal will stipulating the deceased’s wishes will suffice. They may not necessarily like it, but they’ll accept it since it’s what the deceased wanted.
Name an Executor
When you pursue estate planning with the help of an experienced lawyer, you can name an executor. Don’t underestimate the importance of designating who you want to manage your estate after you die.
It should be someone you’re confident will follow through with your wishes without deviation. How will this help keep the peace among your loved ones? When you go this route, there’ll be no question who is in charge. Selecting an executor will reduce the odds of power struggles or questions about who should take charge of the process.
Provide for Minor Children
If you have young children, you must ensure they’re cared for after you’re gone. In addition to naming guardians for your young kids, you can make plans to provide for them financially. You can provide for their necessities as they grow up, their education, and whatever else you wish.
You’ll leave behind a lot of issues if you pass away without first designating who will take care of your young kids. Choosing the right person and leaving behind sufficient funds for them to care for your kids is essential. Estate planning will protect your kids, make their new normal a little less stressful, and ensure their guardians and caregivers have the financial wherewithal to take on their new responsibility.
Healthcare and End-of-Life Decisions
Yet another way estate planning can help keep the peace in your family is by allowing you to make healthcare and end-of-life decisions so your loved ones don’t have to do so on your behalf.
It’s best to make as many decisions along these lines as possible so that loved ones don’t get into arguments about treatment or life support. They will respect your wishes rather than choose what they think is best for you.
Equalize Inheritances
One source of discord after the death of a loved one is an imbalanced distribution of assets. While there are reasons why you might want to leave more to one person than another, you’ll want to be fair when dividing assets to reduce the chances of discord that can live on long after you’re gone.
When the time comes for estate planning, your best bet is to work with a law firm specializing in helping people do it correctly. If done incorrectly, someone could contest it in court and possibly get it overturned. Finding an experienced estate planning law firm will ensure your wishes are honored.
