Regardless of how well you know your loved ones, you never know how they will react to the sudden news of your death or incapacitation. And although not many believe the possibility of conflict, it is pretty common that families dispute inheritance issues or life-saving medical treatments in the presence of a court.
As we all know, family problems frequently surge over small and big disagreements. However, when tragedy strikes, conflicts can arise. When money and sentimental items are on the line, these conflicts can lead to bitter disputes and lost relationships; nothing anybody wants after the death or incapacity of a loved one.
Conflicts and disputes can surge from anything. However, the most common problems that arise after the death or incapacitation of your loved one are due to poor fiduciary selection and disputes over the validity of wills and trusts. Poor fiduciary choice, in other words, the selected individual to execute your desired duties, with the best interest of the beneficiaries named in your plan, arise problems quite commonly. As a matter of fact, making a poor selection can lead to a breach of fiduciary duty due to failing to provide required accounting and tax information to a beneficiary, making improper distributions, and failing to pay taxes. Additionally, disputes over the validity of wills and trusts occur for a few different reasons. These disputes, which can be contested in court and, if done successfully, will effectively mean the documents never existed, create problems during tragic times.
It is vital to be clear and transparent with your intentions to everyone affected by your will or trust while you are still alive. Communicating your intentions in every aspect can allow all affected parties to be aware of the choices you are making before having to learn about them when you are no longer present. Holding a family meeting is an excellent way of communicating and setting everything in order. Nonetheless, as clear as you can be, these disputes can still occur, especially in blended families.
On the bright side, this can all be avoided by working hand-in-hand with an experienced estate planning lawyer. The best way to impede and prevent these conflicts is to work with an estate planning lawyer and efficiently arrange strategies to anticipate and avoid the familiar sources of conflict. Estate planning lawyers will guide you in selecting the most qualified fiduciary, as well as creating and executing your ideal plan. Estate planning lawyers will ensure smooth navigation during tough and emotional times to avoid any possibilities of conflict. We are trained to predict, spot, and prevent possible conflicts during times of uncertainty. Schedule your Legacy Session and learn more today!
