What are some common estate planning issues?

On Behalf of | Jul 15, 2022 | Estate Planning | 0 comments

When dealing with estate planning, you may encounter situations that you have never heard of before.

Planning for the unexpected during probate is one way to reduce tension and worry around the subject.

Failing to organize your assets

According to Kiplinger, seriously thinking through what you want to give to your beneficiaries can help you when you have a large piece of property or a timeshare. Some people may not want to be responsible for the upkeep and payments regarding this particular asset.

Talking with your loved ones about what they want can allow them to help you know each asset is going to the right person.

Being unprepared for fights

You should be clear in your will or other documents about what you want to leave to each of your family members. If your writing is unclear, your loved ones may end up dealing with fights in the time after your death.

Leaving some heirlooms or items to certain people can also spark disagreements. Being polite but clear about what you choose to leave to each person can help you if you worry about stress for your remaining family members.

Choosing the wrong executor

Picking a person you trust to be your executor is an important task, especially when they may not have much interest in the job. If you discuss this responsibility with them before formally choosing them, they can tell you whether or not they accept the task.

Knowing the details of what debts they need to pay off or what assets they need to give can help them make this decision. Planning ahead for these estate issues is one way to prevent stress later on.