Estate planning allows you to pass on your financial and personal wealth to your loved ones when you pass away. However, sometimes beneficiaries get into arguments about assets, even bringing in lawyers and taking their disputes to court. Below is more information about how you can keep the peace after passing away.

How to Prevent Disputes Between Beneficiaries

1. Create a Clear Will

Draft your will with the help of an estate planning lawyer to create a clear, comprehensive, and legally binding document that doesn’t miss any details. A lawyer will know what assets to include, from bank accounts to property, jewelry, and more. They will also make sure that the will is lawful and admissible in court so that an heir cannot dispute the validity of the document. For example, they can ensure you have the required witness signatures.

2. Bypass Probate

When a person passes away, their will must go through probate. In this process, the courts ensure that the person handling the estate pays all fees and taxes. This delays when beneficiaries get their assets, and can diminish the amount of their inheritance.

Additionally, since wills are public record, beneficiaries can see what other heirs received. However, there are ways to prevent probate. For example, you can make bank accounts payable-upon-death so that the money immediately goes to the designated recipient. You can also designate property as jointly-owned, allowing the other owner to directly take control of it.

3. Establish a Trust

Another option to consider is foregoing a will. Instead, place your assets into a revocable living trust. When items are “in trust,” you no longer own them, so they aren’t subject to probate. However, since the trust is “revocable,” you can still make changes to the beneficiary terms. Another advantage is that trusts are not public record. Beneficiaries can’t determine where different assets went after you die, preventing arguments.

For competent estate planning guidance, trust Ray T. Kennington, Attorney At Law. This lawyer serves Enterprise and Ozark, AL, with knowledgeable, skilled legal services. He and his team work together to fight for the best possible outcomes for their clients. Visit the website to review their services, from family law to personal injury law. To schedule a consultation, call (334) 445-1200.