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It’s not uncommon for siblings to be torn apart by inheritance disputes after a parent passes away. Each party may feel entitled to certain property or assets. Fortunately, by taking steps, such as working with an estate planning attorney, you can encourage harmony and limit fighting. Here’s what you need to know. 

3 Tips to Prevent Conflicts Over Your Estate 

1. Appoint a Professional Fiduciary 

When a parent passes away, sibling rivalries often come to light. The grief can trigger difficult memories and feelings. Unfortunately, determining who gets what can become a battleground for the different sides to settle old wounds. 

estate planningIf you suspect that this will be a problem, hire a lawyer to serve as a trustee. Having a third party involved will help keep everyone calm and prevent fights. The attorney will distribute the assets according to your wishes, doing so responsibly and in a timely manner. 

2. Leave Specific Instructions

When there are economic disparities between siblings, fights are common. For example, if they inherit property, one child may want to sell it immediately while another may have enough money to hold onto it for many years. The dispute will be even worse if there are multiple parties involved. To prevent conflicts, include specific instructions in your estate plan; be clear about your thoughts on selling or preserving the property. 

3. Note Advanced Benefits

When a child needs startup funding, money for paying off debts, or financial help with a down-payment, they’ll often go to their parent for assistance. Conflict may occur later on, especially during the probate process, when another heir feels they didn’t get the same benefit. To avoid this issue, note the gift within your estate plan, being clear about whether or not it was an advance on the child’s inheritance. 

 

When you need an estate planning attorney you can trust, contact Castles Family Law. Serving Nashville and Franklin, TN, this firm will help you create a will and trust while preventing future conflicts between siblings. They’ll draw up the contracts with you and execute the plan down the road. Additionally, they’ll conduct periodic reviews to adjust the documents for any life changes. Call (615) 804-6086 to set up a consultation, or visit their website to learn more about their estate planning services. 

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