When a parent dies, the last subject siblings generally prefer to discuss is that of a will. Yet it is not uncommon for surviving family members to become involved in disputes over the details of a will that a parent leaves behind. When such a conflict arises in California, there are many routes to solutions; however, there are an equal number of warning signs that can help surviving family avoid these stressful situations altogether.
Everplans, a company that provides resources on wills and financial planning, shares some of these warning signs. Preexisting sibling rivalry is one red flag, as such tensions are usually deep-seated and can prolong over decades. That simmering pot can eventually tip when a parent dies and children are left to pick up the pieces of a will. Everplans mentions that one path to resolving these tensions is to work with a professional fiduciary who can help siblings reach an agreement.
Forbes acknowledges the common issue of sibling disputes over wills, sharing that the next 30 years will likely see roughly $30 trillion in inheritance money. What follows is an astounding number of disputes among children and grandchildren over what, exactly, constitutes as fair inheritance. Some economic experts suggest that part of this issue stems from the growing number of adults who have not saved sufficiently for retirement. Sense of entitlement also plays a major role in disputes. What could help resolve these tensions? According to Forbes, open communication is key, especially for aging adults who have yet to discuss aspects of financing and estate planning with their children. Sibling wars may never completely fade into the background, but Forbes points out that financial planning is an ideal place to start when considering fair inheritance.