4 Proactive Ways to Tackle Inheritance Disputes

Do you feel your children might end up in an inheritance dispute after you are gone? If so, you are not alone! Family dynamics change as everyone grows, including your children. On the one hand, they might be playing as kids, and on the other, they might have disputes due to family situations. One of the common reasons why children end up having disputes is the division of inheritance as stipulated by the parents. Such disputes are seen by Barrie family lawyers due to poor planning of estate and asset distribution. However, you might have time to ensure that your children don’t go through inheritance disputes in the future. Here’s how you can handle inheritance disputes by taking proactive measures now.

Estate Planning:

Don’t leave estate planning to the last minute! Instead, start creating an estate plan right away. Having a legal estate planning document which lists your wishes and intentions can help you reduce the chances of disputes among beneficiaries.

Get a Mediator:

When you are planning for estate distribution, make sure to include getting a mediator on board in your plan. Once you are gone, your children will not have a reliable mediator aka you to help them resolve the conflicts. The best way is to hire a neutral mediator. Having a neutral mediator can help create a safe space for constructive dialogues. Mediators can also help come up with alternative ways to handle the disputes while keeping your wishes at the forefront. You can ask your family law lawyers Barrie to suggest the right mediator.

Asset Liquidation:

Make sure to include a clause for asset liquidation if a dispute arises on asset ownership. Liquidating an asset provides the beneficiaries a way to sell the asset and share the money equally. This reduces the chances of unequal distribution and thus disputes.

Hire An Independent Estate Lawyer:

Don’t make the mistake of relying on a family member when estate planning. The best way to reduce any legal issues and inheritance disputes is to hire an independent estate lawyer. Estate lawyers Barrie has the right knowledge and expertise to guide you through the planning process. They will also suggest the right things to include to reduce the chances of inheritance disputes amongst beneficiaries.

You can get in touch with us at Owen & Associates Law to connect with professional, experienced, and certified estate lawyers. We can help you through the process effectively while keeping your best interests in mind. Call us now to find out more.