Can an Estate Plan Reduce Familial Conflict Over Inheritances?

The odds are that you wish for your loved ones to band together when the day comes that you, unfortunately, pass on. And likely the last thing that you wish is for your loved ones to turn against each other for the sake of an inheritance. Rest assured, your estate plan may aid in keeping the peace. Follow along to find out how your estate plan can reduce familial conflict over inheritances and how one of the experienced Butler County estate planning & probate attorneys at Heritage Elder Law & Estate Planning, LLC can help you sidestep this estate battle.

How can an estate plan help reduce familial conflict over inheritances?

As the grantor of an estate plan, you have a great responsibility that you must uphold. That is, you must ensure that your estate planning documents are all established, along with being valid and enforceable in the state of Pennsylvania. This is because, if you do not take control of your estate plan while you still have the opportunity to do so, your loved ones may find themselves in a lengthy and expensive legal battle against one another.

With that being said, you may pull your weight in reducing familial conflict over inheritances by establishing a valid and enforceable will that spells out which loved one receives what assets (i.e., answer who inherits your house, who inherits your business, who inherits your family heirlooms, etc). Or, to make matters all the more fair, your will may spell out how to sell your assets, to divide the proceeds evenly amongst your loved ones.

And while you are still around, it may be in your best interest to explain to your loved ones what your plans are regarding inheritances. This is so your loved ones will know what to expect when the time comes.

What are tips for avoiding an estate battle?

As one of the beneficiaries of an estate, you likely do not want to fight with your loved ones over something as materialistic as an inheritance, especially during this difficult time. Though, conflict may arise if your loved one may forget to incorporate certain assets into their estate plan. Without further ado, below are tips for avoiding an estate battle over these remaining assets:

• Use a mediator to settle on how to distribute the remaining assets.
• Defer to an independent fiduciary to distribute the remaining assets.
• Liquidate the remaining assets and evenly divide the proceeds.
• Take turns to assign the remaining assets.
• Use a lottery system to assign the remaining assets.

At the end of the day, you need one of the talented Butler County estate planning attorneys on your side if you are hoping to avoid an estate battle. Contact Heritage Elder Law & Estate Planning, LLC to retain our services today.