• 28
  • February
    2011

The unfortunate fact is that many families end up fighting over inheritances, and many of these fights devolve into bitter feuds. The poor economy has made the fights more common and more vicious, as people enter disputes over smaller amounts of money that they desire for ever-increasing expenses.

Some people who were counting on an inheritance to fund their retirement didn't do as good a job as they should have of saving on their own. Desperation leads to brutal fights. Many people are living lifestyles they can't afford, with the hope of redeeming their financial situation through an inheritance. If the inheritance doesn't come to them, they'll fight to try to get it anyway.

Many conflicts are, at their root, about issues other than money. With blended families, many people have differing feelings about what stepchildren and second spouses should receive. The will may not reflect those individual feelings.

Sons-in-law and daughters-in-law sometimes pressure their spouses to contest a will that would not have been contested otherwise. Also, sibling rivalries might be awakened by conflicts over what each child deserves.

In almost all cases, Florida contested will attorneys would recommend that people have a conversation with their heirs so that everyone knows what to expect.

Here are some recommendations for bequeathers and heirs:

Be sure you have a will. Most people don't have one. Get professional help putting one together - it is well worth it. Include specifics about family heirlooms. Many fights start over specific items of personal property.

Make a simple plan. If it is too complicated to understand or fulfill, conflicts can arise about the plan's interpretation.

Keep in mind that some assets will pass outside of the will/probate. Joint bank accounts and other jointly held property will automatically become the property of the other joint holder. If one child has a joint bank account with you, keep this in mind.

Don't try to settle old scores or make up for past mistakes. Treating all heirs equally will be better for avoiding conflict.

If you are an heir in an inheritance fight, get help. Whether it is a lawyer, and accountant or a therapist, professional help may be needed to work through an inheritance conflict.

Source: Daily Finance "Plan Now to Avoid an Inheritance Feud Later" 2/27/2011