by Anita Schnee, Attorney at Law
What if the joy of the holiday season doesn’t quite measure up to what we had hoped? It seems almost inevitable that connecting with family can run into disagreements, especially this year when we all have been grappling with the pandemic. Things have changed from what they once were – or, the change you hoped for still hasn’t happened. Yet.
The holidays are a good time to take a realistic look at family dynamics. It makes sense to plan for them, when it comes time for your heirs to inherit from you. This thoughtfulness can build a legacy that accounts for differences and that seeks to even them out as much as possible.
Take time to work out solutions with an experienced elder-law attorney. Those of us who have devoted our service to elders have seen so many situations where careful estate planning can alleviate or avoid family fights over inheritances.
We have seen sibling rivalry become especially thorny between children of different marriages. Disputes that may have simmered during a parent’s lifetime can boil over in the context of inheritance. We know how to plan to avoid those disputes turning into law suits.
We know how to plan to allocate your property when family members have differing financial needs. A wealthy child may want to hang on to property that a less-advantaged child would want to sell, for the immediate return. We can help you craft a plan that accounts for these differences.
We know how to construct a plan to care for family members who are more dependent than others, whether that dependency stems from disability, financial or substance-abuse difficulties, or the need for government assistance.
If you married again late in life, we know how to plan to divide property fairly between step-children.
If you have given one child money to start a business, or another to buy a home, or another with student debt, we will help you plan to avoid future disputes between children whom you have not yet favored.
Keep an eye out for family rifts showing up during the holidays and then come see us.
