The idea of creating an estate plan can leave many Texas residents feeling overwhelmed. Though they may have ideas about how they would like to distribute their remaining assets and ideas relating to other estate planning matters, they may worry about how their family dynamics will affect how well those plans are carried out. It is true that family relationships can cause difficulties during probate, but individuals could take steps to reduce the potential for conflict.
One worry that some parties may have is that their heirs will irresponsibly spend their inheritances. Some loved ones may suffer from substance abuse issues, mental health problems or other factors that could make them less likely to have responsible control over large sums of money. Fortunately, individuals could create trusts in order to stagger payments to heirs or that could stipulate that the assets can only be used or accessed under certain stipulations.
Another issue that individuals may have concerns about is the conflict between their children. While some siblings may seem to be the best of friends, others may constantly fight and disagree. As a result, parents may worry that the fighting will continue after their deaths. If parents believe that certain details in their plans may cause conflict, they may find it helpful to leave an explanation for their decisions or, even better, discuss the decisions with their children ahead of time.
Estate planning can be a complicated process, and some Texas residents may have to take additional steps and think more closely about the best ways to potentially avoid future conflict. Of course, it is important to remember that these plans should reflect individuals’ true intentions, and family discussion can often prove useful during the planning process. Interested parties may want to discuss their concerns regarding possible conflict with their legal counsel to learn more about useful planning tools.