David Howard Goldberg, P.L.

Estate planning tools to help with sibling rivalry

Having kids can bring great joy to any Florida resident's life. Of course, siblings do not always get along, and in many cases, parents can find themselves at their wits' end as they try to find ways to make everyone happy. You may have tried to do this for the entirety of your children's lives, but even now as adults, they continue to squabble.

Because of this tendency for conflict, you may have concerns about what will happen to your remaining estate after your passing. Though you will not be around to witness it, you nonetheless do not want your children to fight over your assets. Fortunately, you can make your estate plan work for you and find ways to lessen the chances of them fighting.

Use the right tools

When estate planning, you could utilize a number of useful tools. These options come in handy when trying to find ways to make sure that your surviving loved ones receive the bequests you have in mind while also preventing them from fighting over them. Some tools you may want to consider using include the following:

  • Trusts: You could utilize trusts to add a layer of protection to your assets as well as give yourself some control over the assets even after your passing. If you fear that your kids will fight over property, you can leave specific instructions regarding to whom, when and how the trustee can distribute the assets.
  • Professional executor or trustee: Though you may want to put one of your children in charge of your remaining estate, if there is a chance that the other children will find fault with this decision, you may instead want to simply opt for using a professional service or other third-party executor or trustee.
  • Letter of instruction: Because it does not make sense to list every item in your will and who gets them, you could utilize a letter of instruction if you do want to get that specific. This letter can focus on personal or sentimental items and detail exactly who gets what.

Of course, your will and other documents can also play important parts in your estate plan, and you may even find creative ways of your own to prevent sibling disputes.

Crafting the right plan

When making your estate plan, you will need to ensure that your wishes are legally binding and leave no room for confusion. You can go about making a comprehensive estate plan by working with a knowledgeable attorney.

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