Do you have a West Palm Beach estate plan? Are you sure that upon reading of the will there is not going to be afamily feud? Experienced Palm Beach probate litigators know that an estate plan is not just about your peace of mind it is about setting up your loved ones for a successful transition not just emotionally but financially. Do you know how to avoid family infighting after the will is read? Check out these four simple tips.
Take Care of the Formalities
- There is always going to be someone who is unhappy with the will.
- You cannot please everyone right?
- One thing that you want to avoid is a will contest based on formalities like whether or not your witnesses signed in each others presence.
- Not to mention this issues could halt the probate process altogether.
- Do you want to be subject to an intestacy proceeding in West Palm Beach?
- Get the formalities out of the way.
Consider Trusts
- More and more West Palm Beach citizens are finding success in trusts that act as a will substitute.
- What are some of the advantages?
- For one thing they will not be filed in West Palm Beach probate court absent a dispute.
- Also you can hire a professional trustee and avoid using a personal representative.
- Do you have enough money to make a trust worth the time?
- Have you considered Pay on Death accounts as an affordable substitute?
Learn What the Elective Share Is
- Does your estate plan attempt to disinherit a spouse?
- You may want to check out Florida’s elective share statute one more time.
- Odds are you are overlooking a law that entitles your spouse to elect to take 30% of an elective estate, which may include non probate property.
- Do you know what parts of your West Palm Beach estate are non-probate properties?
Beware the Temptation to Disinherit
- Look sometimes you want to disinherit a relative, we all do.
- But do you think they are going to take that lying down if there is a ton of money involved?
- West Palm Beach probate litigators know that sometimes you have to choose your battles.
- Maybe a consolation inheritance is best in these circumstances, it depends.
Want to learn more?
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