When you are starting the process of estate planning, give some consideration to what you can do to make the probate process easier for your loved ones to navigate. A few strategic preparations could eliminate a lot of potential stress, uncertainty, and contention.
Here are some examples of what you can do to minimize the possibility of hardships or conflict in probate.
Choose an executor discerningly
The executor of an estate has to assume responsibility for many important duties. They include reconciling finances, sending notices to creditors that comply with legal requirements, and distributing assets.
To serve in this role effectively, people do not need to have a ton of accounting expertise, but they should have general proficiency with financial management principles. Ideally, you should choose an executor who all of the beneficiaries of your estate are going to be comfortable interacting with and consider to be trustworthy.
Discuss your plans with your family
When the people close to you hear from you firsthand about your intent regarding specific provisions of your estate plan, it can spare them from feeling blindsided or sighted. With frank, open dialogues, people are probably going to be more willing to accept your wishes and less likely to contest the validity of your will.
Lastly, bear in mind that it may be prudent to periodically review your estate plan and assess revisions. Material changes to your assets, income or family composition could merit the execution of an amendment to one or more key provisions in your will.
