129: Estate Planning Strategies to Reduce Family Conflict After Death

Absolute Trust Talk

Family conflict after a loved one has passed is very common, but that doesn’t mean it can’t be avoided. In our years of experience in estate planning, we’ve seen many different scenarios play out and have a thorough understanding of the nuances that tend to cause these conflicts. The number one reason for disputes over a trust lies in the feeling that it is not fairly divided. While Mom and Dad or Aunt Sally can set up their estate however they wish, often, a simple conversation with family can go a long way to clarify why certain decisions were made.

In this episode of Absolute Trust talk, we discuss the top three areas where the biggest issues arise: real estate, tangible possessions, and perhaps most importantly, who gets appointed trustee. We’ll also share relatable examples, easy-to-follow advice, and more to help ensure your estate plan is carried out peacefully and as you see fit.

Time-stamped Show Notes:

0:00 Introduction

0:49 While every family has their own unique situation, the number one reason people contest a trust or estate plan is because they feel they didn’t get their fair share.

2:52 Hiring a professional to act as trustee can have unexpected benefits for managing your trust. Here’s what you need to know.

3:50 Appointing a family member as a trustee can come with complications. Here are just two great examples.

5:15 It’s a common misconception that if you hire a third-party fiduciary, your children will have no say in anything. But that couldn’t be further from the truth.

5:50 Here’s an extra piece of advice: If real estate can be a point of conflict, write a provision to have your house sold after you’re gone.

6:51 There’s no question that family feuding over a loved one’s belongings is common. Here are ways you can mitigate it.