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Estate planning among siblings

On Behalf of | Jan 5, 2021 | Heirs & Beneficiaries |

Unfortunately, the days following the death of a relative are often some of the most tense within a family. In an ideal situation, family members would come together to comfort one another and mourn their loss, but that is not always the case. Estate planning in Minnesota can help reduce the amount of fighting among family members that can follow the death of a loved one.

Documentation in estate planning

It is not uncommon for siblings to all believe that they should receive something when a parent dies. Depending on the financial situation of each sibling, the feelings of animosity can run deep as many people count on an inheritance to improve their financial situation. Having a written estate plan that dictates every asset is paramount when trying to reduce the friction among siblings.

Don’t wait until the end

While no one wants to accept the reality, many people are not mentally or physically capable of preparing an estate plan when they get near the end of their life. This creates the need for a written, notarized estate plan before disease or other factors render someone unable to make their wishes legally binding. Working with an attorney when you are still healthy is an investment in the future.

What to consider

Every family’s situation is different, which means the things to consider are different as well. If you are considering building an estate plan, consider the financial status of everyone who will be in your will as well as what they are responsible enough to handle. Only you know what is best for your family.

Working with an attorney while estate planning is the best possible way to ensure that nothing is undone. Your attorney may help ensure that you have every form completed out and that your legacy continues after your passing.

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