When you pass away, you want your family to come together and be there for each other. They should be comforting each other and sharing their favorite memories of you. They should not be fighting over assets and inheritances. Unfortunately, this kind of thing happens often, and sometimes it can be traced back to the deceased never establishing an estate plan of their own. Do not make this mistake. Make your own plan with the help of a Rockland County wills, trusts & estates attorney.
How Can an Estate Plan Help Ward Off Fights About Inheritances?
When you make an estate plan, you can make it clear who is going to get what. Since you have to be of sound mind when you make the estate plan and it is witnessed by multiple people, there can be no doubt that this is exactly what you wanted to do with your assets and other items.
You can also write a letter to go with your estate plan, explaining your actions and why everyone received what they did. This can make it easier for people to accept your estate plan and how assets were distributed. We also recommend that you have some conversations with your relatives and beneficiaries after you establish your plan. This can prepare them for what is to come.
What Happens If I Pass Away Without an Estate Plan?
If you pass away without making an estate plan, the courts decide where your assets go. There is an order to it, with your spouse getting first priority and then your children. This can cause a lot of conflict over inheritances though, since you had no control over who received what. Another issue is that you will not be able to donate assets to any charitable causes, if that is something you wished to do. So if you want to support an organization you worked with or set up a fund of your own, you need a comprehensive estate plan.
Should I Use a No-Contest Clause?
A no-contact clause can prevent some challenges to your estate plan. Someone can decide to contest your will, but that would actually cause them to lose out on what you have already passed down to them. So it can be a good idea to leave a little bit for everyone while you incorporate this clause. That way someone has to think twice before they try to sue and modify the agreement.
Schedule Your Consultation
So if you want to do everything that you can to stop your family from fighting over assets when you are gone, you are ready to form your own estate plan. Contact the Lauterbach Law Firm and schedule a consultation. We can tell you more about your options and how our experienced estate lawyers can be of assistance.