Suggestions To Lessen Family Disputes Over Property
- By Simon Volkov
- Published 12/28/2011
- National, State, Local
- Unrated
Any time family disputes over property escalate to the point where family members are no longer communicating, it can be beneficial to hire a professional mediator to ease anxiety. Mediators can help family members sort out their differences surrounding valuable property. They can also be beneficial in helping divorcing couples divide jointy-owned property and overcome challenges regarding child custody and spousal support payments.
Both death and divorce can cause people to behave in ways they normally do not. The stress caused by these life-altering events can increase emotions. Any time a person has magnified emotions there is a higher probability for disagreements to escalate into family feuds.
Getting a divorce is hardly ever easy, but when couples won't compromise or the divorce becomes contested, things become even more difficult. One method that can lessen potential for disagreements is to setup a prenuptial contract. Another is to work together with a mediator instead of trying to overcome issues in the courtroom.
When disagreements occur about divorce property settlements it is advisable to hire a divorce lawyer. This is particularly important when couples jointly own real estate investments and financial investments.
Unfortunately, there are not very many friendly divorces. Couples filing for divorce usually start off with the best intentions of keeping things amicable, but in nearly every case tempers eventually flare. Working with professional mediators can help couples resolve disputes before they result in warfare.
While divorce can produce all kinds of family disputes, death can create complete chaos. Any person that wants to minimize potential for inheritance war needs to participate in estate planning. It is strongly recommended to work with an experienced estate planning attorney to become familiar with the various strategies that can be used to protect inheritance cash and valuable property.
There are many estate planning methods. Individuals can write a last Will, establish a trust, or designate assignment of beneficiaries to lessen the duration of probate. Required techniques depend on multiple factors such as the person's marital status; if children of minor
age are involved; and the sort and value of estate assets.
Professional estate planners can explain which methods offer the most amount of protection and reduce estate and inheritance taxes. They can help clients execute a Will; transfer assets to a trust; and utilize methods that lessen risks of family arguments over inheritance property.
As a probate liquidator in the state of California, I have witnessed countless relatives erupt into arguments in probate court over property they felt was rightfully theirs. One of the main reasons I appear in probate court is to buy estate assets that have to be liquidated through court to payoff decedents' outstanding debts or to cover costs of lawyer fees caused by heirs that have filed a lawsuit against the estate.
After spending years witnessing family fights I have come to the conclusion that contesting the Will is the quickest way to destroy an entire family. Certainly there are instances where loved ones are entitled to estate assets that was not gifted to them in the last Will. However, many of the fights I have seen occur because people become greedy.
One action that can minimize having the Will contested is to put in a 'no-contest' clause. Basically, the clause states that any heirs that file a lawsuit automatically give away their rights to any estate assets gifted to them in the Will. Although this method is not completely foolproof it does provide a good preventative measure.
Another option is to gather family members together and hold a meeting. Family members can lay claim to valuable assets they would like to inherit. While people usually feel a bit uneasy about claiming a family member's property, this technique can prevent fighting later on.
If more than one person wants the same items they can enter into negotiation during the meeting. When everybody chooses the property they want a list should be written that includes each individual's name and the property they will receive. The list ought to be signed by each relative and attached to the last will and testament.
It is hard to make smart decisions in the midst of family chaos. While there is little doubt that people with a justifiable claim should fight for property they are entitled to, they will also need to think about the consequences. Being ostracized from everyone in the family is almost never worth engaging in family disputes over property.
Both death and divorce can cause people to behave in ways they normally do not. The stress caused by these life-altering events can increase emotions. Any time a person has magnified emotions there is a higher probability for disagreements to escalate into family feuds.
Getting a divorce is hardly ever easy, but when couples won't compromise or the divorce becomes contested, things become even more difficult. One method that can lessen potential for disagreements is to setup a prenuptial contract. Another is to work together with a mediator instead of trying to overcome issues in the courtroom.
When disagreements occur about divorce property settlements it is advisable to hire a divorce lawyer. This is particularly important when couples jointly own real estate investments and financial investments.
Unfortunately, there are not very many friendly divorces. Couples filing for divorce usually start off with the best intentions of keeping things amicable, but in nearly every case tempers eventually flare. Working with professional mediators can help couples resolve disputes before they result in warfare.
While divorce can produce all kinds of family disputes, death can create complete chaos. Any person that wants to minimize potential for inheritance war needs to participate in estate planning. It is strongly recommended to work with an experienced estate planning attorney to become familiar with the various strategies that can be used to protect inheritance cash and valuable property.
There are many estate planning methods. Individuals can write a last Will, establish a trust, or designate assignment of beneficiaries to lessen the duration of probate. Required techniques depend on multiple factors such as the person's marital status; if children of minor
Professional estate planners can explain which methods offer the most amount of protection and reduce estate and inheritance taxes. They can help clients execute a Will; transfer assets to a trust; and utilize methods that lessen risks of family arguments over inheritance property.
As a probate liquidator in the state of California, I have witnessed countless relatives erupt into arguments in probate court over property they felt was rightfully theirs. One of the main reasons I appear in probate court is to buy estate assets that have to be liquidated through court to payoff decedents' outstanding debts or to cover costs of lawyer fees caused by heirs that have filed a lawsuit against the estate.
After spending years witnessing family fights I have come to the conclusion that contesting the Will is the quickest way to destroy an entire family. Certainly there are instances where loved ones are entitled to estate assets that was not gifted to them in the last Will. However, many of the fights I have seen occur because people become greedy.
One action that can minimize having the Will contested is to put in a 'no-contest' clause. Basically, the clause states that any heirs that file a lawsuit automatically give away their rights to any estate assets gifted to them in the Will. Although this method is not completely foolproof it does provide a good preventative measure.
Another option is to gather family members together and hold a meeting. Family members can lay claim to valuable assets they would like to inherit. While people usually feel a bit uneasy about claiming a family member's property, this technique can prevent fighting later on.
If more than one person wants the same items they can enter into negotiation during the meeting. When everybody chooses the property they want a list should be written that includes each individual's name and the property they will receive. The list ought to be signed by each relative and attached to the last will and testament.
It is hard to make smart decisions in the midst of family chaos. While there is little doubt that people with a justifiable claim should fight for property they are entitled to, they will also need to think about the consequences. Being ostracized from everyone in the family is almost never worth engaging in family disputes over property.
Simon Volkov
Learn more ways to counteract family disputes over property from probate expert, Simon Volkov. He offers estate planning tips and ways to prevent probate at SimonVolkov.com.
View all articles by Simon Volkov