39 of 50

Write now Article Tools

Page 4 of 5

sent out requests asking which if any of their children desired any of the items on the list. If only one person expressed an interest that resolved the issue. If more than one expressed an interest in the item, the Benefactor was able to intercede, negotiate and resolve the issue to the satisfaction and happiness of all concerned. Resolving conflicts while still alive, and possessing the ability to offer other substitute items as part of the negotiation process, gave the Benefactors control and preempted complaints after their death. On occasions such actions may cause some family members to complain about it being morbid or sick for the Benefactor to be planning for their death, especially when the Benefactors are still in good health. The answer to all such questions is simply to use the opportunity to reinforce the love they have for their beneficiaries, and to make clear their strong desire that their death not be the cause of anger, contention or disunity.

Choose the right Executor: For Benefactors that insist on distribution through a will, they can still help to avoid potential family conflicts by ensuring that the executor they select is even-tempered, fair and balanced. Benefactors will know from a lifetime of knowledge which of their children or beneficiaries would be best able to divide the inheritance and who could be most trusted to follow the directions of the will. However, sometimes the choice of executor itself can cause hard feelings in the parties who were not selected. Some may take it as an affront that their sibling was selected over them for that important task. Such issues can be overcome by a meeting with all Beneficiaries in which the Benefactors explain the rationale in their choice for Executor. Telling the family members that you chose the youngest, because they will most likely still be living should the Benefactors die, might be rationale enough to set aside imagined reasons in the hearts of those not selected. Also, for families with quick tempers, it might be prudent for a Benefactor to select a neutral party, that is one outside the family, as the executor. Such a choice can be expensive, and careful consideration should be given to the reputation and reliability of the chosen Executor.

Detail and justify the distributions in the will: While any will or trust should be established with the advice and counsel of an attorney, and even though they are legal documents, there is no prohibition to a will containing a full explanation

• << previous page
• 1
• 2
• 3
• 4
• 5
• next page >>

Add your voice

Know something about Ways for siblings to divide an inheritance?
We want to hear your view. Write now!