How to Avoid Estate Plan Disputes
Each year, thousands of wills are contested in court. This can lead to a lot of stress and unnecessary expenses, so it’s best to avoid trust and estate disputes if you can. To help reduce the risk of disagreements, follow these helpful tips.
Skip Provisions That Let Your Family Decide Asset Distribution
Some of the most bitter disputes arise from wills and trusts where the decedent assumed their family can work together and figure things out on their own. Provisions such as saying that each child gets to choose which piece of jewelry they keep can lead to a lot of arguments. When in doubt, be as clear as possible. Try to state what you want instead of leaving decisions up to your family members. Each member of your family has their own relationship with each other, and you cannot always guarantee they will be happy to work together and decide things fairly.
Manage Expectations Ahead of Time
Many New Jersey estate litigation lawyers find that disputes are more likely to get out of hand when there’s an emotional component. Many potential beneficiaries feel they have been promised certain items, and it can be very hurtful for them to realize their parents didn’t agree with them. You can avoid these types of estate planning disputes by managing expectations carefully. Whenever possible, avoid promising something to a family member that you aren’t actually going to leave them. If you think your decisions may cause disagreements later on, try to talk to the family member ahead of time instead of leaving them to find out after your funeral. Explaining why you’re making the decisions you’re making can encourage them not to start contesting a will later.
Be Cautious of Situations That Could Lead to Undue Influence Claims
Many wills and trusts are overturned due to claims that the beneficiary was in a position of power and coerced the decedent into leaving their money to the wrong person. These disputes can happen any time you are in a situation with the potential for abuse or manipulation. If you wish to leave assets to a caretaker, spiritual advisor, healthcare provider, or new friend, it’s important to be cautious. You’ll need to consult with a lawyer and see if anything about your situation could lead to accusations that you were unduly influenced.
Address Changes to Your Family and Your Situation
Any time you experience major changes in your life, it’s a good idea to update your estate plan. This ensures you don’t end up with problems like a trust that doesn’t list your newest grandchild. Any time your family grows or shrinks, you should update your estate plan. You’ll also need to make changes if you acquire or lose significant assets. By keeping things up to date, you ensure that shifts in your life circumstances don’t end up causing confusion after you pass away.
Consult With a Lawyer
If you want as few arguments as possible, a legally sound estate plan is your best option. Just Googling how to write a will and jotting down notes on a piece of paper is not enough. You need a carefully drafted set of documents that lay out your wishes as clearly as possible. If you foresee disputes, your lawyer can even take extra steps to help you avoid them. Options like additional witnesses and doctors’ examinations can help to confirm that you’re of sound mind, so your descendants have fewer reasons to dispute your plans.
An experienced New Jersey estate litigation lawyer can be one of the most effective ways of avoiding disputes. By working with someone who has experience handling disputes, you can proactively address most of the issues that would lead to arguments. At The Knee Law Firm, our team handles a wide variety of estate planning needs. In addition to managing litigation, we also draft wills, oversee trusts, and handle probate. Learn more about our trust and estate administration legal services by calling 201-996-1200.