Although estate planning can be a tricky subject to cover, it is fundamental to your well-being as well as the security of your family members. A lack of an estate plan can cause great uncertainty as you get older, which can lead to disputes among your loved ones.
Sadly, even when you have taken steps to offer clarity and peace of mind over your medical care and inheritance, arguments can still occur. Recognizing the more common sources of family disagreements over your estate plan could help you to prevent them from arising. So, why do families fight over inheritance?
When someone feels left out
Families often extend out with your blood relatives. For instance, you may have been part of a blended family a number of years ago. With an ever-changing dynamic, it is not always the case that you remain close with the people you encountered through previous marriages. As a result, you may have disinherited people from your estate. However, it is possible that they see this as being unjust. Furthermore, they could be of the opinion that there is simply nothing to lose by making a legal challenge against your final will and testament. By ensuring that the instructions you leave behind are clear, as well as legally watertight, you may avoid this form of dispute.
Old rivalries can resurface
All families have arguments from time to time and the rivalry between siblings may have been heated over the years. Discussions around emotionally charged issues such as inheritance have the potential to reopen old wounds. Siblings could become overwhelmed by bitter feelings and act out in revenge.
There are estate planning tools that you may utilize to mitigate such conflicts. Disputes over inheritance can arise from various angles, but having a sound estate plan in place can keep conflict to a minimum. As you plan for the future, be sure to research your legal rights in New York.