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Connecticut Phone: 203-661-5222 | New York Phone: 914-397-2400 | Florida Phone: 239-302-2768

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Will your will lead to battling beneficiaries?

One thing that no one wants after they're gone is to have their beneficiaries -- typically children and/or grandchildren --- squabbling over who got what from the estate.

Below are some red flags that your heirs might wind up haggling with one another.

Sibling rivalries

If your adult children spent their formative years in a constant contest of one-upmanship and nursed grudges, it's unrealistic to believe that all of that will fade once you have passed.

The best way to avoid this acrimony is to appoint as trustee a professional fiduciary who has no personal interest in your estate.

Naming co-trustees

You might think that by doing this, you allow each to voice their opinions on estate matters. However, what often occurs is that multiple trustees fail to reach accord on vital matters. Circumvent the problem by naming a sole trustee.

Economic disparity among beneficiaries

This is often unavoidable. However, it can present big problems when heirs' competing interests destabilize the liquidation or preservation of the estate. You may prevent the worst of it by leaving detailed instructions of how the property should be disbursed.

A beneficiary is disabled or otherwise incapacitated

If you have one or more dependent heirs, or if some of your intended beneficiaries struggle with substance abuse or mental health issues, they can complicate the settling of your estate in myriad ways. Funding special needs and/or spendthrift trusts can sidestep these issues handily.

The above are by no means the only roadblocks to a streamlined estate plan. To dodge these and other avoidable problems, have a frank discussion with your Greenwich estate-planning attorney.

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Greenwich Office
25 Field Point RD
Greenwich, CT 06830

Phone: 203-661-5222 CT
Fax: 203-661-1197
Greenwich Office Location

White Plains Office
1 North Lexington Avenue
Suite 701
White Plains, NY 10601

Phone: 914-397-2400 NY
Fax: 914-437-6354
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2317 Montauk Highway
Bridgehampton, NY 11932

Phone: 203-661-5222 CT
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500 Fifth Avenue South
Suite 526
Naples, FL 34102

Phone: 239-302-2768
Fax: 239-325-1813
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