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Home » Estate Planning » How Estate Planning Avoids Family Feuds

How Estate Planning Avoids Family Feuds

May 20, 2011 by John Potter

When a loved one becomes sick or dies, family feuds often erupt.  Estate planning can prevent many family feuds.

Up-to-date estate planning documents

Up-to-date estate planning documents go a long way in making your intent clearer and reducing squabbles.

Communicate your estate planning goals and decisions

Let your loved ones know that you are doing estate planning.  You may want to hold a family meeting at home or in your attorney’s office.

This is especially important in a blended family.  Be sure that both your spouse and your children know that each will be provided for.  This conversation will make a huge difference in your relationships during your lifetime and in their relationships after you are gone.

Be sure to explain why you chose Child A and not Child B to be your executor, trustee, or agent.

If you are making “unusual” estate planning choices such as giving unequal inheritances, explain why verbally and in writing.

Let your family know where your estate planning documents and important papers are kept and destroy any out of date documents and financial papers

Having several conflicting estate planning documents floating around could breed litigation.

Create a plan for the distribution of your tangible personal property

While financial assets are easy to divide, your personal property such as family pictures and family heirlooms are not.  Consider creating a memorandum to gift specific items to appreciative family members and a lottery system for the remainder.

If you have a blended family, be careful to avoid disinheriting your children from your first marriage.

Jointly owned property OFTEN leads to an unintentional disinheritance.  Use trust planning and trust ownership to protect your children.

Be careful about making your children wait until the death of your second spouse (non-parent) to receive their inheritances and about making your children the remainder beneficiary of any assets going to your spouse.

Use your estate planning to provide for each beneficiary separately and avoid family feuds.

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John Potter
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Filed Under: Estate Planning Tagged With: Avoiding Family Feuds, Estate Planning

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Overall The Potter Firm was very professional. They took what could of been a very complicated process and were able to break it down so it was a lot easier to understand. We are confident we now have made the right decisions in our estate planning. Good firm to work with.

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John Potter has been a real pleasure to work with. He is very knowledgeable and explains things in a very simplistic manner so the average person can understand how/why the laws are written. He is very attentive and asks questions in such a way that not only helps him understand your goals, but also helps you think about what type of goals and expectations you should be considering. Exemplary client service.

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My husband and I selected Ms. Potter to assist with our small business. She responsive and attentive every time I have a question or need assistance, and is extremely knowledgeable and able to answer any legal question I have had. I know I can count on Ms. Potter for all of my business legal needs and I would highly recommend her to anyone needing legal assistance with such.

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