Disputes over wills and trusts after a loved one passes can damage even the strongest family relationships. These disputes are not only highly emotional, but they are also expensive and time-consuming. To reduce the possibility of these disputes and ensure that your final wishes are fulfilled, it is important to take a proactive approach. Our Nevada estate planning attorney can work closely with you and your family to protect your legacy and avoid disputes.
Work with a Nevada Estate Planning Attorney
Using estate planning documents or online templates may seem convenient, but it can also result in mistakes that can lead to a future dispute. To ensure your estate plan is valid, it must meet specific requirements under state law. Missed signatures, small mistakes in language, or vague terms can all create an opening for a disagreement.
A Nevada estate planning attorney will understand the nuances of the law and close the gaps that could lead to a dispute. A plan that is properly drafted and executed will show that you have complied with the legal requirements and demonstrate your clear intentions, all of which make it more difficult for anyone to question your plan’s validity in the future. Our estate planning attorney has the necessary experience to craft personalized estate plans that withstand scrutiny and reduce conflict.
Communicate with Family Members
One of the best yet most underrated ways to avoid future disputes is to be transparent with your family members. Although you should not feel as though you must provide them with every detail, telling family members that there is a plan in place, and informing them of where to find important documents is very helpful.
The best way to tell loved ones is often to have a family meeting with the people who are most impacted by your plan. Do not go into the meeting thinking it is a negotiation with your beneficiaries but instead, know that it is simply about explaining your intentions. When your loved ones can prepare and know what to expect, they are less likely to feel angry or shocked in the future, which can also minimize the chances of a dispute arising.
It is particularly important to remain transparent when there are unequal distributions of your property or when your provisions are based on certain conditions or behaviors. Meeting with your family can also provide an opportunity for your loved ones to ask questions, and for you to answer them, which can remove confusion and help ensure family relationships remain intact.
Create Trusts that Address Complex Dynamics in the Family
Each family has its own story and that story is unique to them. For many, this includes concerns about someone’s health, spending habits, divorce, or creditors. With a trust you can create customized instructions detailing how and when your property is distributed.
You may want to ensure you provide for a child while protecting their inheritance from being misused. Or maybe you want to encourage certain life milestones, such as maintaining employment or completing higher education before granting full access. These trust structures provide greater flexibility while also providing protection.
Naming a neutral third party such as a professional trustee can minimize family conflict while also protecting your property. When a trust is well-structured, it allows you to provide for your loved ones while protecting them from possible risks.
Ensure Your Estate Plan is Current
If your estate plan is outdated, it can create more questions than it answers. Changes in financial status, family structure, and even state law can all impact the validity and relevance of your documents.
It is generally recommended that you review and update your estate plan every three to five years after any major life event such as divorce, marriage, or birth. You should also review your estate plan when there are changes in your health, or after you sell or acquire property. When consistent updates are made, they can demonstrate an ongoing commitment to your plan and reduce the potential for successful will or trust contests.
Ensuring your estate plan is up to date can also provide peace of mind that it is still aligned with your wishes and values. It is not just about making sure it meets the legal requirements, but about leaving the legacy you want to leave behind.
Our Estate Planning Lawyer in Nevada Can Help
Your estate plan should give you peace of mind, not create problems. Whether you need to create a plan or update your current one, our Nevada estate planning lawyer at Boyer Law Group can help. Call us now at (702) 255-2000 or contact us online to schedule a free consultation and to learn more about how we can help.