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Estate planning tips to prevent conflict

An estate planning tool such as a will that does not clearly express the wishes of a decedent can result in confusion and conflict for families and heirs. Nevada residents may benefit from learning tips for how to make sure their estate is distributed according to their preferences.

The beneficiaries for a life insurance policy should be determined before the policy holder dies. The funds can be allocated evenly among the beneficiaries, or each one can be designated a certain percentage of the payout. If possible, beneficiaries should be involved with the decisions regarding their inheritance. People can opt to begin giving away heirlooms before they die and may allow each beneficiary to have a turn at choosing which one they want. A list can be created to document who receives which item. Family participation in the process can help prevent infighting over the items when the loved one dies.

People may also want to give their beneficiaries an opportunity to pretend to purchase the items they would prefer to have from the estate. After an appraiser is hired to assess and price all of one's assets and each beneficiary is give an equal amount of play money, the owner of the estate can keep track of the pretend purchases to ensure the easy transfer. Testators can also eliminate confusion by including a letter of explanation in their will. This may be particularly helpful if some beneficiaries receive more than others.

An attorney who has experience with these matters can often assist clients with protecting their assets, avoiding disputes and creating an estate plan that clearly express how their assets should be handled. This may entail providing assistance for drafting a last will and testament.

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