How to avoid family conflict in estate planning

| May 19, 2021 | Estate Planning |

You worked hard so that you could leave a legacy behind for your loved ones, but if you are not careful when drafting your Texas estate plan, you risk it creating conflicts between or among your children. However, by starting the estate planning process early and while you are still of sound mind, you may be able to create a plan that appeases everyone involved.

Per AARP, there are several techniques you may want to employ when crafting your estate plan to cut the chances of familial conflicts arising after your death. These techniques are as follows.

Resist the temptation to leave unequal distributions

Leaving one child more than another is a surefire way to cause contention between your children. If you have concerns about one child in particular due to him or her having a drug problem or being financially irresponsible, there are other steps you might want to take before you leave this child less than the others. For example, you may be able to create a trust that child may be able to access on a conditional basis.

Give your children an idea of what they may inherit

Many inheritance battles also stem from a child, or multiple children, having grandiose ideas about what they stand to inherit. You may be able to bring your child back down to earth and set realistic expectations by giving your kids at least some semblance of what they stand to receive after your death.

You want your children to be able to turn to one another in tough times, and they may need each other after your passing. By taking these steps, you may be able to avoid potential discord and help your family unit stay intact.