Unfortunately, family conflicts following the death of an estate owner are not uncommon. Though if you create a valid and enforceable revocable living trust, you may allow your loved ones to avoid probate altogether. You can avoid familial conflict by establishing a strong estate plan to help bypass probate. Additionally, legal disputes also arise when expectations are unclear or assets proceed through probate court. Continue reading to learn how you can curb familial conflict over inheritances and how an experienced Broward County trust lawyer at The Probate Lawyers can help you in doing so.
As a Grantor, How Can I Avoid Familial Conflict Over Inheritances?
To reiterate, one benefit that a revocable living trust has over a will is its ability to avoid the Florida probate court. But in addition, a trust may be used for specific property dispositions. In other words, you may put a certain piece of property (i.e., a bank account or real estate property) in both your and your loved one’s names so that it may automatically pass down to them upon your passing through rights of survivorship. With this automatic transfer, other prospective heirs may not have the opportunity to come forward and dispute its ownership.
What’s more, you may appoint someone as the executor of the will. This individual may serve as a neutral third party who cannot benefit from any of your decisions regarding property distribution. Ultimately, this may suppress any complaints of unfairness or favoritism that your prospective heirs may be tempted to claim.
In Florida, avoiding probate through tools like revocable living trusts is especially important, as probate is public and can increase the risk of disputes between your beneficiaries.
These strategies are incredibly effective in accordance with Florida law, where probate proceedings are governed by the Florida Probate Code and can increase the likelihood of disputes if assets are not adequately structured in advance.
What Other Considerations Can I Make in My Estate Plan?
Undoubtedly, creating valid and enforceable estate planning documents is the most important step to take. Still, there are smaller initiatives that may make all the difference for your loved ones’ feelings regarding your decisions. The common theme amongst these initiatives is transparency.
Practical Steps to Reduce Family Disputes
- While you still have the capacity, schedule a family meeting with your heirs to discuss your plans for the distribution of your estate.
- While you still have the capacity, distribute copies of your estate planning documents to your heirs and open the door for any questions or concerns.
- For your loved ones that you plan to include among your heirs, create a cover letter that explains any deviations from the equitable distribution of your estate.
- For your loved ones that you do not plan to include among your heirs, draft separate memorandums describing your reasons.
- For your minor items that are not mentioned in your estate planning documents, tag them to indicate your intent for who is to receive them.
Can Updating My Estate Plan Help?
One misconception is that estate planning ends once you finalize your will or trust. However, this is far from the truth, and you should regularly review and update your estate plan. This is especially true following major life events. Updating your will can help ensure it accurately reflects your intentions and minimizes disputes among loved ones.
When to Update Your Estate Plan
- After considerable life events, like marriages, deaths, and births
- When you obtain or sell significant assets, like real estate or businesses
- If your relationships with your beneficiaries change over time
- When laws impacting estate planning or probate are updated in Florida
- If a named executor, beneficiary, or guardian needs to be updated
When Inheritance Disputes Commonly Occur in Florida Estates
Even with an estate plan in Florida, disputes may arise if the instructions or expectations are unclear or if legal proceedings arise. Understanding the root cause of these conflicts can assist you in proactively preventing them.
Common Causes of Inheritance Conflict
- Lack of will or trust, forcing assets through Florida’s intestate succession laws
- Unequal division of assets with no explanation
- Blended families with competing interests between spouses and children from a prior marriage
- Misunderstanding as a result of a lack of communication
- Disagreements over the executor’s decisions
- Public probate processes that result in scrutiny and challenges
- Outdated or prior iterations of the will that have not been updated
Contact a Broward County Estate Planning Attorney Today
At the end of the day, if you wish to accomplish a fair and just distribution of your assets, you need a skilled Broward County estate lawyer by your side. At The Probate Lawyers, we understand how difficult these matters can be to navigate, which is why it’s imperative to retain our services today. Conact us to learn how we can assist you during these complicated legal matters.
