Sibling arguments seem to be a common occurrence after death in estate planning. As parents, you and your partner might try to ensure an even division of assets during the estate planning process, but there’s a chance that something will cause a disruption. Fortunately, understanding the most popular reasons for a quarrel could help to preserve peace. Take a closer look at the following to determine the best approach.
It’s possible that each sibling has their own idea of what they're going to inherit after their parents pass away. Finding out that one sibling got more than the other could cause a disagreement. It could also be that they were counting on a certain amount to further business endeavors or pay off debts or carry on the family business. Not receiving what they thought was their due may cause hurt feelings and result in a quarrel.
Another instance is when donations are made without the siblings' consent. This includes listing local organizations as the beneficiaries of priceless heirlooms or the family home. While you as a parent might intend this to be an act of generosity, your children could see it as a disregard for their feelings.
Communication can be key in the estate planning process. It ensures that everyone is on the same page and can reduce the risk of a fight. For example, if you’re considering specific designations for personal belongings, ask if your children have any preference on the items that they should receive. This will show that you value their opinion and will give you and your children a chance to clear the air about everyone's expectations.
You should also take care to select an unbiased executor for the estate, such as a trusted friend or a lawyer. This is the person who will be handling each of the accounts and dividing up the inheritance. Having an older sibling carry acting as the sole executor could instill feelings of suspicion within the family and leave the other siblings questioning if the oldest sibling is simply pursuing their own interests.
If you’re beginning the estate planning process, reach out to Trailhead Estate Planning in Signal Mountain, TN. This local attorney has several years of experience and is licensed to practice in Tennessee, Georgia, and Alabama. He recognizes the unique circumstances of each case and offers a custom approach that will ensure the proper paperwork is on file. Call (423) 228-7029 to schedule a consultation, or visit his website for a complete list of services.
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