How to Prevent Family Feuds Following Death

How often have you heard about a family feud following a death in the family? Whether it is a personal relation or the story of Anna Nicole Smith or the Koch Brother – everyone has heard a horror story about wills and inheritances. Rather than risking a similar situation occurring in your own family, it’s important to protect your assets and familial relationships before you pass.

How do you do this? Rather than simply dividing an estate into portions, which can lead to estate litigation, designate a specific recipient for your most valuable assets. Put the specific designations into a will, which cannot be refuted.

Don’t think this could apply to you? Here’s an example: Ms. Clark has 2 daughters ages 30 and 26. Upon her death, her will designates that her estate be split 50/50 between her daughters. As her assets and items are being distributed, the younger daughter asks for a pair of earrings that belonged to her mother. However, the older daughter wants to keep the earrings for herself. At this point, the two daughters would have to go through a series of legal proceedings to work this situation out. However, had Ms. Clark designated the earrings to go to a specific daughter, there would be no problem.

Another way around this issue would be for Ms. Clark to have given her earrings away before she passed away. By giving away your prized possessions when you are still living, there is no room for misunderstandings regarding who was to receive what.

There are plenty of ways to assure that your personal effects are taken care of but it is important to be informed.

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