Losing a loved one is an incredibly devastating matter that can take years to process. Unfortunately, matters regarding their estate must be settled somewhat quickly to ensure those with a vested interest receive the funds they are legally entitled to. However, when someone in your family has reason to believe the terms and conditions of the will you’ve created do not accurately reflect your wishes, they may need to contest the will. This can be a complicated process and impact the estate plan you’ve created, so it’s important to understand the steps you can take to mitigate potential estate issues following your passing. The following blog explores what you should know about these matters and why working with a Nassau County estate planning lawyer is in your best interest.
What Are Common Estate Issues That May Arise?
Following the death of a loved one, their family may experience heightened emotions that lead to conflict. Most issues surrounding estates center on a family member feeling as though they were wronged for receiving a smaller inheritance or because an asset they wanted went to another person.
However, there are instances in which these concerns may be warranted. Though it is upsetting to consider, older adults have been taken advantage of by family members in order to manipulate their will and receive a larger inheritance. This is called undue influence, as their judgment may be clouded and altered by the person with negative intentions.
You’ll also find that issues can arise regarding the person you choose to appoint as your estate executor. If the person you have appointed does not take the job seriously, misuses estate funds, or repeatedly fails to communicate with beneficiaries regarding the progress of your estate plan, your beneficiaries may contest these matters which can cause legal issues and significant delays to the distribution of your estate.
What Can I Do to Limit Issues?
There are a number of steps you can take to help limit issues regarding your estate plan before you pass. One option is to ensure you regularly review and update your plan. This helps provide your family members with peace of mind that you were actively ensuring the terms and conditions in your will reflect your wishes.
The next step you can take is to include a no-contest clause in your will. Essentially, this makes it so that anyone who contests your will is barred from collecting an inheritance if their contest is unsuccessful. This can help reduce familial drama, as many will choose to avoid this issue.
Finally, you’ll want to carefully consider who you appoint to serve as the executor of your estate. By making a thorough and careful decision, you can choose someone capable and trustworthy to assume this role. This can help limit issues with your estate following your passing, as your executor will be someone personally chosen by you to fulfill this task.
Creating a solid estate plan is critical to achieving peace of mind that your wishes will be honored upon your passing. That’s why working with the team at Barrows Levy PLLC is in your best interest during these matters. Our firm will do everything in our power to help you create an effective estate plan that reflects your wishes. Connect with us today to learn how we can assist you during these complicated matters.
