It’s normal to see family members with differing opinions on how to handle the passing of a loved one. It’s normal to see them argue about caring for an elderly loved one who needs more care and attention than in the past.
Unfortunately, those arguments could get out of hand and cause real issues. Families have even been broken up by the arguments that sometimes result from a loved one aging or passing away.
The good news is that it’s possible to plan for these conflicts in your estate plan, so you can minimize the risk of your family members having conflicts if you pass away or can’t take care of yourself anymore. Here are three tips that may help.
How can you reduce conflicts with estate planning?
There are many ways to reduce the risk of conflict. Here are three.
- Create a no-contest clause
If you think there will be arguments over the contents of your estate and how they’re distributed, consider creating a no-contest clause. This clause will penalize anyone who contests your will if they don’t win their case in court.
- Talk things through with your beneficiaries in advance
The next thing to do is to talk to your beneficiaries about your will and preferences in advance. If they have time to bring up concerns now, then you’re likely to see fewer issues in the future.
- Avoid being unfair in your will
Finally, avoid being unfair in your will. If you are going to leave uneven inheritances to your loved ones, it’s worth writing down why you made the decisions you did. Doing this might seem unnecessary, but it could help them understand why you have assigned certain assets to specific people and not others. This could help prevent a conflict from starting, since your wishes would be clear.
These are three ways to prevent a family crisis because of your estate. Everyone hopes that their family members won’t have a breakdown in communication over an estate, but it is a possibility that you should plan for if you want to make the most of your estate plan.