The 4th mistake that could occur with estate planning pertains to the distribution of "personal effects". Sometimes the biggest conflict among family members pertains to those items with little economic value but significant sentimental value. It is not the money or real estate because those distributions are generally made clear.
It is the family armoire, jewelry, china or art. Make sure you have a clear way of making the distribution. You might want to consider a lottery system or a memorandum listing who gets what. The memorandum could be placed with the Will and updated from time to time.
A little planning goes a long way to avoid conflict and bad feelings. Contact us for estate planning, probate and elder law needs at http://www.ythlaw.com/
It is the family armoire, jewelry, china or art. Make sure you have a clear way of making the distribution. You might want to consider a lottery system or a memorandum listing who gets what. The memorandum could be placed with the Will and updated from time to time.
A little planning goes a long way to avoid conflict and bad feelings. Contact us for estate planning, probate and elder law needs at http://www.ythlaw.com/
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