All Texas residents should plan for the future to protect their families. However, even though a person might leave certain assets to a specific person in their will, that doesn’t mean problems won’t arise. Siblings can end up in inheritance disputes. These are options for resolving them.
An estate plan
Having an estate plan in addition to just a will can prevent a potential squabble between siblings over an inheritance. It gives the person the opportunity to clearly designate who should receive what. Creating a trust as part of the estate plan is a good way to hold certain assets. If the parent expresses their wishes on which of their children should receive which property, it might prevent an argument.
Letter of instruction
If the individual writes a letter of instruction, it can serve as a valuable legal tool that clarifies how they want their property distributed to their children. It’s a binding document that is comparable to a last will and testament. Because it expresses the parent’s wishes, it could prevent problems between siblings when the will is read.
Have a neutral personal representative
When a parent anticipates that their children might have an inheritance dispute, appointing a neutral personal representative to handle their estate is wise. This ensures that the person is not in it for their own personal benefit. A neutral person doesn’t have anything to gain by favoring one sibling over the other, so they can fairly distribute property and assets and not appear biased.
If siblings can’t settle their issues over an inheritance, mediation might be a good option. A mediator could help them come to a solution, but if this is impossible, the siblings might have to ultimately go to court.
Siblings don’t always agree, but these methods might help with disagreements related to your estate.