Your will determines what happens to your assets after you pass. From your house to your savings accounts, you have likely allotted your valuables to various loved ones. However, it's not uncommon for families to get into disputes around an estate, sometimes even causing lasting rifts. Follow these tips to prevent these issues about your will.

3 Tips for Avoiding Disputes Around Your Estate

1. Inform Your Loved Ones of Your Plans

While it's not an easy topic to broach, informing your family of the details of your estate plan now can spare strife later. You can address any seeming inequalities and explain your choices in person. For instance, perhaps one child is receiving a larger portion of your savings because the other will inherit the family business.

2. Include Personal Effects in Your Will

Don't assume that personal effects will be easier to divvy up because they aren't worth as much monetarily. Emotions run high after a loss in the family, which can make items of sentimental value, like jewelry, even more significant. Take the time to designate what should happen to these items in your estate planning documents as well.

3. Take Loans & Advances Into Account

Parents often lend a helping hand to their children. Maybe you paid for your daughter's college education, or perhaps you gave your son money for a down payment on a house. If you made such gifts or personal loans, you might consider adjusting the will. In the case of a loan to one child, for instance, you could subtract that amount from their portion of the estate.

For assistance drafting your will, trust Stayton Law of Willamette Valley, OR. This law firm has been serving the area for generations, providing friendly service with a boutique law firm feel. Their team will listen to your concerns and provide honest legal advice on the best path forward. For an overview of their practice areas, visit their website. To meet with an estate attorney, call the law office at (503) 769-7741.