Did you know that over two-thirds of Americans do not have a will? It may not seem like a big issue, but it can cause major problems when they pass away and there is no plan.
Have you ever thought about what you will do if a loved one passes away, and you have to work through estate disputes? Here is a guide on how to resolve estate disputes when they arise.
Try Estate Mediation
If you want to avoid going to court, estate mediation is a great way to ensure that you smooth over problems. You will not have to spend as much money and you can use a mediator to assist in the process.
The mediator is a neutral party, so you do not have to worry about him or her taking sides with any family member. You can talk through issues and decide how to fairly divide assets that are not specified in a will.
Hire a Real Estate Dispute Attorney
One of the biggest inheritances that a loved one can leave is a house or some kind of property. Unfortunately, this can cause major strife among those who are set to inherit.
An estate planning attorney can answer any questions that you have during the process and educate the family on how to resolve issues in court and outside of court. You may need to pay a retainer to keep the attorney on hand in case you have any concerns.
Proper Estate Planning
If you have a chance to help your loved ones with estate planning before they die, this is one of the best ways to iron out any issues. You can either do it yourself or consult with an estate planner or special attorney.
For those with significant assets or complex wills, it is best to take your estate planning one step at a time. For more information on estate planning, you can research what you need on the internet as well.
Using an Independent Fiduciary
Usually, a living trust will designate one of the beneficiaries as executor of the will. If there are major disputes and people want to contest the will, then it may be better to use an independent fiduciary.
This is an individual who can sort out the estate in a neutral manner. Similar to a mediator, a third party will help ease the tension between beneficiaries and help heal problems that arise over the distribution of assets.
Resolve Estate Disputes With Ease
If you have estate disputes when a loved one passes away, you should not have to worry about taking your loved ones to court. With these tips, you can solve problems easily and go forward with settling the estate.
Want to learn more about all things related to estate planning? Check out our site for answers to all of your questions so you can plan accordingly.