How to Prevent Family Disputes Over Inheritance
Preventing family disputes over inheritance can be a significant goal for those engaging in estate planning. It leaves a positive legacy. You don’t want the positive memories of what you put together for your family to be tangled up with disappointment and anger over what you did or didn’t leave to a loved one. Estate planning law firm Lee Kiefer & Park has helped thousands of families, and we will discuss ways to prevent this from happening to yours after you pass away.
Lee Kiefer & Park’s highly experienced estate planning attorneys in Las Vegas, Greg J. Carlson and Jordanna L. Evans, assist clients with estate planning throughout Nevada. Call us at 702-333-1711 to schedule a free consultation to discuss your estate planning needs.
There are Two Things I Don’t Like Talking About: Death and Money
No one wants to think about their death, but it’s inevitable. It’s something we must all deal with and doing so benefits our loved ones. Ignoring the fact you will die won’t prevent it from happening. While some might brag about what they have, most of us don’t talk about it. But there should be exceptions to this rule, like when filing your taxes and preventing disputes over your assets after your death.
You should outline what you want to leave to whom and why, but be open and flexible. As stated above, the best way to try to prevent disagreements (while there are no guarantees) is to communicate openly with those who will be getting an inheritance and close family members who will not (or perhaps much less than they might expect). Talk to them one at a time. Getting the news in a group setting may embarrass those receiving little or no inheritance.
This situation is not necessarily limited to one of your children getting more or less than another. For example, you may want most of your estate to fund a charity or cause, such that none of your children will get what they expect.
Discuss your reasoning and be open to feedback. As a rule, you may not think anyone should get a large inheritance. You may have negative feelings about someone and reduce their inheritance because of misunderstandings or miscommunication, not genuine animosity. Family members may be understanding and supportive of your plans. Someone may be disabled and need more help than the others. One may be more involved in your life and provided help you when you needed it.
I Don’t Have Anything Worth Fighting Over
There are fierce disputes over family heirlooms and personal property that have little to no objective value. They’re important because they’re a connection to you or your family. You may be unaware that a child may connect deeply to a photo, painting, or piece of furniture. Your record collection or set of pans may be in far more demand than you imagine.
Part of these conversations should be about heirlooms and personal property, bringing these emotional connections to light so you may accommodate them as best you can.
I Took Care of My Will a Long Time Ago
It’s great that you did estate planning. It’s not so great if you haven’t updated it to represent your current situation. When created, your estate plans may have made perfect sense, but circumstances and relationships change.
Someone you were close to may no longer be part of your life. The opposite may be true, too. A family member who was remote in the past may become very important. When the estate plan was created, you may not have heard of a non-profit whose cause is now very important to you.
Does My Estate Plan Need to be So Formal?
Our estate plans are not more complex than they need to be, but they meet the formalities required of Nevada law. An unhappy family member may try to get a larger inheritance by challenging your will’s legitimacy. When formalities are fully met, it can make estate planning documents more difficult to challenge in court. Should such a circumstance arise, the law firm of Lee Kiefer & Park represents estates defending wills and those who challenge them.
In a will or trust contest, someone may claim you weren’t of sound mind or you were unduly influenced by someone who got a larger share of your estate. Open communication with family members can help show you are competent, thoughtful, and flexible in creating your will or trust. But if you aren’t of sound mind and invented things people didn’t actually say or do, or created family conspiracy theories to justify who gets what, it may support the idea that your will should be challenged.
We can include in your will or trust a clause that if a party unsuccessfully challenges your wishes, they will end up with a fraction of what was originally intended, or nothing at all. That may serve as enough of a deterrent to prevent costly legal challenges to your estate plan.
Contact Estate Planning Attorneys at Lee Kiefer & Park to Start the Discussion
Your estate plan is part of your legacy. It sets the stage for how you can help others in the future. You can take steps now to reduce the risk of sparking disputes and turning your legacy into anger and resentment.
Lee Kiefer & Park estate planning lawyers, Greg J. Carlson and Jordanna L. Evans, are highly experienced Las Vegas estate planning attorneys who help clients like you throughout Nevada. If you or your family might benefit from estate planning, whether you are located in Las Vegas or Henderson, contact our estate planning lawyers for a free consultation by completing our confidential contact form. You can also call us at 702-333-1711 to speak with an estate planning attorney in Las Vegas, Nevada.
Attorney Kennedy Lee practices in all aspects of trust and estate law. He views all legal issues from multiple angles (e.g. from litigation to administration point of view) to provide a higher quality of service to our client.
