Death in a family is an unpleasant experience. It is even worse when your family members start to get into quarrels and disputes over your property once you are deceased. Families in Michigan can so easily avoid getting into conflicts by following these top tips regarding family inheritance.
Planning early while mentally and physically fit
Rather than waiting until you start getting health complications that will drive you to write a living trust or a will, it is best if you do it when you have a clear and sound mind. Numerous inheritance disputes start when some of the family members challenge the will by claiming that the deceased was not of right mind when they created the will.
Getting the services of a neutral attorney
Working with a family attorney can present some challenges in the division of your property. Your beneficiaries can try to sway the attorney to work in their favor. It can, later on, create conflict between your heirs if the attorney favors one party. It is, therefore, best to use a neutral attorney in all your estate planning duties.
Acquiring a living trust to avoid probate
By getting a living trust, you may avoid the probate process that allows beneficiaries to contest your division of property. A living trust places your property in a trust for easy distribution while you are alive.
Instructing the division of your possession
One of the items that create lots of conflicts is the division of personal property. If you do not put it in a will, your beneficiaries will take anything they want as they justify that you would want them to have it. By documenting all of your assets to your estate plan, you can avoid any conflict about the property between your beneficiaries.
This is educational information.