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Estate plans are usually formulated to ensure that the surviving family members are appropriately provided for after their loved ones pass away. But despite the best intentions of the descendants, unwanted family disputes automatically arise. And those disputes involving family inheritance are very likely to tear apart families.
If you’ve seen family disputes in films and dramas, you’ll know that several reasons cause them. Surprisingly, disputes can arise over inheritance because of long-standing family feuds, including unhelpful advice and financial indifferences. Above all, disputes over inheritances can also tie up assets and properties for years.
Nevertheless, with appropriate planning and delivering messages clearly, you can efficiently reduce the risk of family disputes. And to do so, you need to hire the best inheritance solicitors.
If you’re wondering how to avoid disputes over inheritances, then you’re at the right place. This blog will give you informative insights into the techniques of dealing with inheritance disputes. But before that, we will give you a quick run-through of the most common causes of property inheritance disputes.
Read the blog till the end to understand completely How inheritance disputes occur and how can they be avoided
When it comes to property, inheritance disputes can stem from long-standing problems between family members which are compounded by legal issues.
Here, we have listed the most common disputes and issues:
There might be disputes over the credibility of the deceased’s last wishes. For instance, if the deceased wasn’t in a correct mental state to formulate a will, the person might have made certain errors. And when an important beneficiary has been left out of the Will completely, disputes are very likely to arise.
Unfortunately, death doesn’t give prior indications. So a person who dies before issuing any legal Will dies “intestate.” And this is exactly where the trouble arises. The survivors of the deceased often find themselves in property inheritance disputes.
When it comes to selling a shared property, siblings might have different mindsets. While one might have the mindset to sell the property, the other wouldn’t agree. And this automatically leads to family feuds and disputes.
One sibling might believe that the other has been prioritized and they have been shortchanged in the Will. For instance, one sibling might have spent extra time taking care of their ageing parents. So, the other ones believe that their deceased parents haven’t distributed their property equally. And this is exactly where uninvited disputes among siblings arise.
Whenever a dispute over property inheritance arises, we all want to resolve the matter peacefully. But once things tend to go out of hand, you need to seek for legal advice. And that’s exactly when you need to hire inheritance dispute solicitors.
Here is a comprehensive listing of the ways to deal with property inheritance disputes and avoid them:
People often forget to establish a comprehensive estate plan in the first place, and that’s exactly where they go wrong. Most people avoid setting up an estate plan early because they do not anticipate that they might require it anytime soon.
Nevertheless, it is ideal to set up an estate plan while you’re of sound mind and body. While you age, you might probably go wrong when it comes to formulating your estate plan. And that’s when your estate plan becomes more susceptible to contesting.
It is quite difficult to talk to your family while you plan for them after your death. Some people find it morbid to talk about inheritance and property distribution after death.
Nevertheless, communicating clearly about the wishes of your estate planning can seamlessly avoid family disputes. Open communication can also help family members understand your approach to distributing certain assets to certain people. Besides, you can also address why you’ve left out some beneficiaries from your plan.
In addition to a will inheritance, you can always consider a living trust. It is nothing but a legal document that puts your financial and property assets into a trust. Further, it is administered for the benefit of an individual during their lifetime.
After the individual’s death, the assets are automatically transferred to the trust or distributed to beneficiaries according to the documents.
Remember, trust can efficiently help you by avoiding probate. Property that isn’t designated for distribution within a will might be subject to probate. Incorporating property in a revocable living trust to be distributed upon death can avoid probate and other unnecessary taxes.
Estate law tends to change over time. Thus, you should review your estate plans regularly only to ensure that you’re taking advantage of the prevailing tax benefits. Besides, it will also help you avoid penalties and unnecessary tax liabilities.
Significant changes in your life situation make it essential for you to incorporate those changes in your estate plan. Re-evaluating your estate plan will help you ensure it appropriately reflects your wishes and desires.
The best lawyers for inheritance disputes will ensure that your estate plan is truly appropriate for you. An experienced professional will understand which type of estate plan will lead to a contested will. So they will make sure that your estate planning is conducted carefully and reflects nothing other than your desires and interests.
If you have any queries regarding your estate plan, you can always get in touch with the best deceased estate lawyers. They will also guide you if you desire to incorporate any updates to your existing estate plan. Besides, they will ensure that your estate plan is capable of carrying out all your wishes and desires only to keep your family together.