How can you prevent sibling squabbles over your estate?

How can you prevent sibling squabbles over your estate?

On Behalf of | Dec 27, 2022 | Estate Planning |

Sibling spats are bound to happen throughout the lifetime of said siblings. However, they sometimes boil out of control and quickly grow from little fights into enormous explosions.

One common trigger for such explosive fights often comes in the form of a parent’s will. Is it possible to prevent these fights from happening in the first place?

Battling perceived favoritism

The Conversation discusses why sibling squabbles happen over matters like wills. First, any time assets get involved, people tend to let their emotions run wild and end up heated. This is especially true if children believe their assets are not equal to that of their siblings.

Next, perceived favoritism in a will can open old wounds. The favoritism might not actually exist, but if a child perceives that their siblings get more assets, they may equate that to other times in their life when they felt overlooked or neglected.

It is unfortunately impossible to make a will so airtight that no one will ever find a single angle for argument, nor is it possible to eliminate every single thing that could lead to an argument later down the line.

Have conversations while alive

However, it is possible – and recommended – for parents to speak to their children about their estate plan and will before they die.

This is bound to be an uncomfortable conversation. However, it is the best way to ensure that a person communicates all of their intentions and wishes and the reasoning behind their decisions. This way, the children can hear it straight from their parent’s mouths.

With much less room for misinterpretation, this could greatly reduce the chances of squabbles happening.

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