What causes estate distribution confusion?

| Jul 17, 2020 | Estate planning |

One of your main goals with estate planning is simply to leave clear instructions for your heirs so that there is no confusion on their end about what you wanted or what should be done with your assets. Confusion, after all, often leads to disputes. If your heirs have to figure it out on their own, they’re bound to disagree on some points, and that’s what you want to avoid. 

In this light, having no will and no estate plan is the number one reason for confusion while distributing your estate. Do not trust your heirs to know what you want on their own. Even if you have had conversations with them about it, they may remember things differently or they may have forgotten critical details. 

Inconsistencies with your estate plan can also lead to confusion. Maybe you left a personal letter telling your children that your goal was to split things up evenly, but then your actual plan is not 100% even for all of them. Or, perhaps you listed just one person as a beneficiary on your life insurance policy, but your will says that the children should all split the money. They may argue about which directions to follow. 

You do not want to leave a legacy of confusion and disputes. That can drive your children apart. Sometimes, arguments are so intense that they do not want to talk to one another again. It’s important, therefore, to work with an experienced team that can help guide you through the estate planning process. Put your family first. Learn about all of the options you have. Make sure your plan is in place long before you need it.