The greater your assets, the more opportunity there is that your beneficiaries may find reasons to fight among each other after you pass away. However, there are steps you can take to minimize the risk of inheritance disputes.
Most people assume that every person of means has a will or some other kind of estate plan. However, this is simply not true. You might be shocked to learn that many, many individuals with significant assets have no end-of-life plan at all. If you die without a will, you leave your beneficiaries in a terrible position. Not only must they wait on the probate process, they may argue indefinitely about how the government chooses to divide your property (after possibly taking a great deal of it).
If you want to ensure that your beneficiaries do not fight after your death, you should consider discussing the terms of your will with everyone before you pass away. In this way, you can ensure that each person understands your wishes, and may have the opportunity to ask questions if there is a misunderstanding. Of course, this can be a tricky can of worms, and you can’t ever completely control how any individual person may react. Unfortunately, no amount of planning can account for those individuals who are determined to be upset regardless of the circumstances.
If you are ready to create a strong will to protect yourself and your beneficiaries, do not hesitate to reach out to an experienced attorney who understands the nuances of dealing with significant assets and difficult family matters. With proper guidance, you can ensure that your wishes remain secure and your rights remain protected.