Residents of Clark, Nevada, can reduce headaches for loved ones by planning for estate administration. Even the best plans can hit snags, though, and probate administration does come with a few common problems. Here are five things good planning may help avoid.
There are a number of reasons you might want to make changes to a will, but doing so improperly can leave family confused. Ensure you make changes in a legal fashion. It needs to be obvious that the old draft of the will is no longer valid.
Wills can be contested if there is any reason to believe the person creating the will lacked sound mental capability or was under duress. If fraud is suspected or state laws were not followed, the will can also be contested. Individuals should ensure all legal regulations are followed if they want their wishes to hold up.
If a will is not present at the time of death - even if it existed at some point - then state laws govern how assets are divided. To ensure your wishes are followed, create backup copies of the will and leave them with trusted friends or family, as well as your probate attorney.
Joint inheritance of items like houses can be difficult to deal with. Some heirs might want to keep the property, while others want to sell it and divide the proceeds. Consider how assets can be divided among heirs fairly to avoid family division after you've passed on.
Some individuals own property in multiple jurisdictions, such as houses or land in multiple states. Ensure your will complies with regulations in all jurisdictions where your assets are housed to avoid problems in probate or a complicated division of assets process.
Understanding the ins and outs of estate planning is necessary to ensuring the least amount of problems for your loved ones. An attorney experienced in estate administration and planning can provide valuable advice.
Source: ABC 27 WTXL, "5 Probate Problems That A Probate Lawyer Can Help With" Keith Morris, Jan. 06, 2014