CALIFORNIA PROBATE CENTER

The Authority for Probate Litigation and Estate Planning in California

How You Can Avoid a Family Feud

Posted on | May 31, 2010 | No Comments

The following quote sums up estate planning quite well:

“Family, money and death are a combustible combination,” said Toronto-based attorney Les Kotzer, who has co-authored a new book — “Where There’s an Inheritance ” — a compilation of 80 real-life vignettes taken from his law practice and radio show callers.

Having no estate plan is a recipe for disaster – your mother or father, wife, or child could end up in costly probate litigation if they do not have an advance health care directive and financial power of attorney in place. The government substitute is called a conservatorship (see What is a Conservatorship?) or guardianship (see What is a Guardianship?) . They are expensive to put in place and expensive to maintain.

But that is just one piece of the puzzle. You also have to make decisions about who should get what – and when they should get it. The Portland Press Herald has four tips  to keep things under control: let your family know what you want to do with your personal effects, name a good family member as trustee or executor, watch for pitfalls in how you allocate money in your estate, and think it through from the beginning.

Category: Estate Planning - Generally
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