While some of our longest and most important relationships are with family members, they can at times be contentious or difficult in certain situations. One instance in which family disputes can arise is in the division of estate assets after a loved one has passed away. A family member dying without leaving a Will can create a complicated, lengthy and painful process for survivors as they begin the process of assessing and dividing property.
However, creating a Will can help reduce family disputes and allow family members to grieve without the stress of dividing assets. In today's blog post, we will discuss several specific ways in which a Will can benefit individuals and their surviving family members and loved ones.
Simplify Property and Asset Division
Creating a Will to divide assets for beneficiaries can help mitigate contentious disagreement and probate court issues that often arise with property division where there is no Will. Individuals can also use Wills to bequeath assets specifically to charitable organizations, or to establish philanthropic foundations, without interference or delays from other beneficiaries.
Establish Guardians For Minor Children
In the event both parents of a minor child pass away, a Will can be used to name personal guardians who will be responsible for raising the surviving children until they reach adulthood. Wills can also name individuals to serve as property guardians to manage the property bequeathed to the surviving children until those children become legal adults. If a legal guardian is not named in a Will to care for surviving minor children, then the state courts must hold a possibly contested hearing and make a determination of guardianship, which can be a devastating experience for the children.
Creating a Will is not a fun and exciting task, but it is absolutely necessary to ensure there is a plan in place for your children and your property in the event of your death. Wills help minimize tension between surviving relatives, and allow families to grieve without squabbling over child custody, personal belongings, or family heirlooms. The Family Law attorneys of Christiansen Law Firm can help individuals and families create Wills that properly plan for asset distribution and guardianship of minor children. Their experienced Family Law attorneys provide peace of mind and relieve large burdens from surviving relatives. Contact Christiansen Law Firm at their Houston or San Antonio offices for more information or to schedule a consultation.