There are several different preventative measures that you can take when you approach estate planning that can minimize problems with your loved ones down the road. Unfortunately, some of the most common conflicts and disputes surrounding the management of a person’s estate who never took the time to share his or her intentions with their loved ones can lead to feuds that last for generations.
One of the most important things you can do is to consult with an experienced estate planning attorney as soon as possible in the process to discuss your individual goals. This will often lead to a plan that is directly aligned with what you hope to accomplish with your legacy as well as your assets. Furthermore, this gives you the opportunity to name someone as an impartial executor for the distribution of your assets after you pass away.
One of the most critical factors to preserve harmony and minimize the chances of future disputes is to select the right fiduciary to communicate wishes and administer affairs. Appointment of an institutional executor, for example, can help to ensure a fair approach to the distribution and estate management process. Consulting with a lawyer about the benefits of naming the right executor if you are primarily concerned about minimizing disputes with your loved ones is a very valuable process. Identifying a lawyer you can trust to help you create an estate plan that serves you now and well into the future is important.
