Where there’s a WILL, there’s a way
(to tell your loved ones what to do with your stuff when you are gone)
It’s certainly more than a little disheartening to see how some people can act after losing a loved one. Money just seems to have a bad influence on some people. After losing a loved one, the next question, at times, can often be “who gets their stuff?”.
A well thought out Will and Estate Plan can go a long way to ensuring that your wishes are carried out. If for no other reason than to save the pettiness that can arise, do consider getting your Will done early. After you are gone, it’s not your problem, but most of us do not want the trauma of their passing to be compounded by the family fighting over the assets.
Good Estate planning can certainly involve transparency with your loved ones. Perhaps that is also a good time to reconsider any broken relationships, because there is no opportunity to mend relationships after you have passed.
While the fighting is most often driven by financial greed, if you have any special items that you want passed on to specific people, this can either be written into your Will or perhaps better yet, it can be written into a Memorandum that you leave for your executor/trustee.
You may also want to leave comments for specific people in your life or who were in your life at an earlier point. This can be invaluable for everyone to help understand why you have set out certain directions or gifts in your Will. Having them understand why you did what you did can go a long way to avoiding conflict after you have passed away.
Being forthright and transparent with your family members while you are in the planning stages of your Estate and Will is also a very good way to help them understand your wishes. If your loved ones understand your wishes, they are going to be much less inclined to challenge them after you have passed.
To be clear, there is no requirement that you gift anything to any person in your life; however, leaving certain categories of people out of your Will should be done very carefully and your thoughts should be well documented as to the reasons for leaving one person out; or putting another person in.
These issues are emotionally charged, and they need to be dealt with properly to ensure your wishes are carried out. At times you may even want to consider having your lawyer mediate a family conference while you are still able to help your loved ones appreciate and accept your decisions.
We are here to help you through your Estate Planning, which will include the drafting of your Will and other important documents, such as a Power of Attorney and a Representative Agreement.
Life is complicated, but we can assist you to make it more manageable. Call David and his staff of caring and empathetic professionals.