Inheriting property can, unfortunately, at times cause conflict among family members. Experiencing the death of a family member is a very emotional time for many. A death can revive dormant relationship issues, jealousies or resentments.
Sometimes family members are surprised by the terms of a will which may provoke negative feelings. If family members know up front how you will leave your property, they may better understand your choices or have time to express disagreement. Of course, it can be difficult to discuss proposed terms of a will especially when disappointment is possible.
If family members don’t know your plans, surprise can sometimes result in confusion, arguments, and even litigation. A common scenario is negative feelings caused by an unequal division of assets. Many parents leave their property to their children more or less equally, but there are many good reasons for an unequal division. For example, one child may not handle money as well as others or already received more gifts.
Most families do not have serious disputes over inherited money and very few litigate over the terms of a will, however, such scenarios do occur. Choosing your Executor carefully can help avoid disputes. Choose someone who is honest, organized, and a good communicator.
If you require assistance in deciding how to structure your will, consult with an experienced estate planning attorney.
The Radol Law Firm is proud to serve the people of New Jersey in their divorce and family law, elder law, estate planning, and bankruptcy matters. Contact our firm today to schedule a consultation.