When it comes to estate planning in Minnesota, you have to anticipate there may be disputes between family members over your assets when you pass away. If you have any inkling that your family has issues with each other or you have large assets at stake, you should always think ahead to how you can prevent issues from arising, so your estate can be settled quickly and with minimal hassle.
According to The American Association of Individual Investors, there are specific actions you can take to try to prevent problems with your estate. You should try to treat your children equally. Leaving everything to one child can cause major issues and bad feelings. If you treat them all the same, it can help things to be more copacetic.
Personal items can often be a big area for disagreements because of the sentimental value attached to them. To prevent any problems, you should always list each item and who you want it to go to. Make it clear what you want to happen so there is no room for questions or objections.
Keep your estate plan updated. Make sure that you do not just create it and forget it. As you experience changes in your life, such as the addition of new family members or the loss of family members, you need to update your plan to reflect these changes. Out-of-date plans can be a huge area of contention. This information is only intended to educate and should not be interpreted as legal advice.