Proper estate planning can avoid intra-family dispute for a number of reasons. The most basic reason is that when you draft and execute a valid will, you make your intentions clear as to how you want real personal property to be distributed. Further, you can specify either dollar amounts or percentages of your residuary estate for various family members to receive. If you do not have a validly executed will, your estate will be divided according to statute, specifically the laws of intestacy. In this case, certain family members may or may not receive your estate assets in contravention of your true wishes. A validly executed will gives peace of mind to both the testator (person signing the will) and family members.
Another option would be to place certain assets in trust. By placing assets like your home in either a revocable or an irrevocable trust, this ensures the continuity of management of these assets without having to go through probate or administration within the Surrogate’s Court. Again, proper estate planning through these vehicles will avoid family members quarreling over who receives which assets and will avoid any unnecessary delays of probate or administration.
If you need an experienced estate attorney to assist with the drafting of your will or trust, please contact the Law Offices of Michael W. Alpert, Esq. at 6210225-4603 or email malpert@alpertlegal.com