There are countless dramas written and filmed around disputes over someone’s will. The reason this is such a compelling topic is that people can relate to it. Most people know someone or have heard stories of someone who has faced this kind of situation for real.
However happy a family appears, there are often tensions that perceived inheritance inequalities could bring to the surface. If you want to be sure your passing does not lead to a family drama, make sure you make your will well.
Here are some things to consider:
Account for everything
You might not think something is important or of value and so leave it out of your estate plan. You would be surprised what people can fall out over, so including everything is crucial.
Keep your will up to date
The assets that comprise your estate will change over time. For example, may sell a property, open a new business, experiment with cryptocurrency and more. Your estate plan needs to reflect all those changes. It also needs to be current in regard to people. For instance, if a beneficiary dies, you need to remove them and redistribute their share in your plan. If you marry or divorce, you also need to adjust your estate plan to account for that.
Ensure it is legal
If someone is unhappy with a will, they may look for ways to challenge the wishes you put down. Getting help to create your will per state law ensures they cannot use a technicality to do so. Your will need not be complex, but you need it to be effective.