If you are worried that your family will fight over your assets or that certain parties will be unfairly treated, it is a good idea to create a clear will when you are mentally able. When creating a will, it is best to speak to a well-qualified lawyer who will advise you on how to create your will. Here are four signs that your family will fight over your estate.
Sibling rivalry – If your children often quarrel and find it difficult to agree on almost anything, the chances are high that your passing will trigger old memories that may create a battleground for old scores.
Economic disparity – If your benefices differ regarding wealth, the less privileged will want to sell for their immediate need. To avoid this problem, leave specific instructions as to the sale of the property.
Co-trustees – Enlisting co-trustees can cause problems, even if the trustees agree most of the time. Look at only appointing a single trustee to handle your estate.
Beneficiary dependency or mental illness – If any of the beneficiaries are sensitive to the settlement or if they have substance abuse and psychological instability, the situation can soon become complicated. Specify that if a particular person has a chemical dependency, they need to be clean for a specified period before being able to be part of the discussion.
Article by Lyle Charles. Are you in need of private mediation services? Lyle Charles will be able to help you out with your concerns.