You created an estate plan so that your assets would go to the people and organizations you want after your death. Part of this process involved making a will that outlines the distribution of property.
According to the American Bar Association, a will is a document that spells out how you want to distribute your property, and it is the foundation of your estate plan. Although you may draft it according to your wishes, inheritance disputes can still arise, and you can take steps to avoid this problem.
1. Schedule a mental health evaluation
Before you draft or revise your will, schedule a mental health evaluation with your physician. Once you complete this evaluation, sign and seal the report and include it with your estate planning documents.
2. Explain the distribution of assets
Once you create your estate plan, gather all your beneficiaries and explain why you decided to distribute your assets in the manner you chose. Doing this can prevent the potential of litigation over your estate once you pass away.
3. Provide insight into special treatment
If you want to provide special treatment to a certain beneficiary, you should also explain this decision before you die. For example, if you want to provide siblings with different inheritance percentages, provide an explanation of why you did this.
Although you can try to prevent disputes over your estate plan before you die, there is always the chance that this will occur. Create your estate plan sooner rather than later to prevent rushed decisions and to ensure your documents reflect your wishes.