How to Use Estate Planning to Keep Peace in the Family
When you consider that 90 percent of all Americans marry at some time in their lives, half of those marriages end in divorce and 70 percent of those who divorce remarry, you can see how family feuds over inheritances are not uncommon.
The incidence of family discord over inheritances also rises with a bad economy, and keeping peace in the family is one reason many people turn to a qualified estate planning attorney to develop an estate plan for the smooth transition of the passing of assets to heirs.
While there is no one magical estate plan that fits all - contrary to online estate planning services that promise just that - there are estate planning tools to help blended families avoid conflict, including prenuptial and postnuptial agreements for those who remarry, trusts that protect assets for children of prior marriages and power of attorney designations for healthcare and financial decisions that can become necessary in the event of incapacity.
Communication with family members about your estate plan is also essential to keep harmony in the family. An Irvine estate planning attorney can help you create an estate plan and discuss it with family members, which could save your heirs from spending a lot of time and money in court.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.