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Reducing inheritance conflict among siblings

On Behalf of | Jan 14, 2021 | Estate Planning

You worked hard to be able to leave something behind for your children. Now, you need to figure out how to create a Florida estate plan that is not going to lead to turmoil between or among them. Taking time and care when creating your state plan may help reduce the chances of inheritance conflicts arising down the line, which may cause long-term damage to the relationships your children currently have.

According to AARP, there are certain tactics you may want to employ to minimize the chances of inheritance battles. These tactics include the following.

Make equal distributions

Arguably the easiest way to create conflict between or among your children is to leave them unequal amounts. The only exception to this might be if one of your children has a disability that requires long-term care after your passing. Otherwise, you may want to make equal distributions, or run the risk of one child feeling as if you loved the other, or others, more.

Make your plans known

It may also help prevent inheritance battles if your children have at least somewhat of an idea of what they have coming their way. You may want to give your kids a general sense of how much they stand to inherit, making it clear that this amount may vary based on how much you pay for nursing home care later in life, for example.

Making your estate plan early on gives you a chance to think through these and related matters and create arrangements that are less likely to cause conflict within your family.