When you meet your estate planning attorney for the first time they may ask you if you want to mediate your Will and Trust. Though this is an added expense and takes more time, mediating can actually save you in the long run. Consider this:
You go through the estate planning process with your attorney, but after your death family members contest the contents of your Will. The time spent in court, the hours lost, and the damage to the family can be costly from there. The best way to avoid this entire situation is by using mediation as part of your estate planning process.
Remember that estate planning involves a lot of sensitive information, many of which will cause emotional outbursts regardless of how meticulous it is planned. Money, possessions, and even sibling rivalries can come into play when it comes time to go over the Will and Testament; therefore, mediation can help.
Have your estate plan go through a third party mediator prior to filing it with the court. This will discuss the contents of your estate plan with all interested parties and help resolve the disputes about the document contents. By having the mediation provisions listed in your Trust, you can also save your family and other beneficiaries a considerable amount of money and time wasted in pointless court sessions.
Latest posts by Stephen Unsworth (see all)
- A Hypothetical Conversation Between an Inheritance Planning Attorney and a Client - June 12, 2019
- Avoid Intestacy to Prevent Future Problems - May 22, 2019
- Two Business Structures That Provide Asset Protection - May 1, 2019