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How can you reduce the chances of a dispute over your estate?

On Behalf of | Oct 22, 2020 | Estate planning

Your children are all older, and you know that they don’t get along. When you look at all of your children, you can see how they would have different opinions and outlooks, so that worries you.

You want to plan for your eventual death, but you know that sitting those three down together in one room won’t be easy. They are unlikely to have a civil discussion, but you want to make your wishes known to them. Doing so will help you prevent a dispute over your will and estate, but getting your children to listen may be difficult.

The good news is that you can ask your attorney to speak with each of your children independently or do that yourself. To address the potential for an inheritance dispute, here are a few things to consider.

  1. Your children may have different preferences

First, think about your children’s preferences. Some children may be hoping that they’ll get the family home, while others might be better supported if you leave them some cash or other assets. Think about what kinds of assets your children would specifically prefer, so you can head off any disputes.

  1. Consider how to be fair

Being fair doesn’t always mean treating your children equally. If you decide that you don’t want to leave equal inheritances, it’s worth leaving a letter or note that explains why you haven’t. This can stop fights long before they start.

  1. You could opt not to leave anything specific behind

Consider auctioning everything and leaving the proceeds to your children if you believe that there are certain assets that they would fight over. Then, decide how to divide the proceeds, and leave that information in your estate plan as well.

These are three things you can consider as you work to avoid inheritance disputes. Your children may not get along, but you can take steps to make sure that they will have to listen to your wishes and be unable to challenge the contents of your will.

At the end of the day, it’s up to you to decide how you’d like to divide your estate. Your attorney will help to make sure that your wishes are carried out correctly.