Preventing a family fight over your estate

| Jul 13, 2021 | Estate Planning

Estate planning is an exceptional way of ensuring that when the time comes, your assets get distributed as you desire. Otherwise, the Oregon courts step in, potential family disputes erupt and a period of grieving becomes a pit of stress.

Why estate planning?

It’s a misconception that estate planning is for the wealthy. You don’t need a big bank account, large IRA, valuable jewelry, art collection or expensive cars to worry about what happens to your assets. When you prearrange what happens to your estate, you save loved ones a tremendous amount of grief and potential conflict. Not settling your affairs can leave a long-lasting, expensive impact on those you leave in your wake.

Estate planning safeguards the children

The younger your children are, the more you need to consider their future, potentially one without you. You want heirs to have care that you approve of. This includes guardianship. Without an estate plan, a court can decide who raises your children and gets your assets on their behalf, which may cause strife between family members.

Estate planning minimizes family conflict

The war over a deceased family member’s estate is far too common. Siblings battle, spouses and ex-spouses collide, and relatives come out of the cracks to stake a claim. Your estate plan lets you have complete control over what happens to your assets should you die or become mentally incapable of making decisions. When you put your plans clearly in writing, your assets get distributed as you wish, not as someone else wants.

It’s important to protect loved ones and assets for that time you’re not able to. By working with an attorney to prepare estate documents, you’ll rest knowing that your loved ones and assets will be cared for to your exacting specifications without causing a family fight.