Unfortunately, many wills lead to conflicts among heirs. One of the best ways for Nevada estate owners to prevent such issues is to select a reliable executor. The person who is chosen has to be able to bear the responsibility of administering an estate, must be organized and must have ethics.
According to some estate planning experts, choosing a professional fiduciary or corporate trustee as the executor may be the wisest option. In the trust departments of many banks, there are trustees who may be ideal for estates of high value. Smaller estates may be better served by professional fiduciaries.
A will should also include what should happen with the estate owner’s personal property. Any items that may be of emotional or sentimental value to surviving loved ones should be addressed in the will. Individuals may want to consider asking their children directly about which items they want. In many cases, personal property holds the most overall value to heirs.
It is not unusual for parents to allocate more assets to one of their children than they do the others. A well-off child may not need as much money. However, all unequal distributions should be explained in the will to prevent conflict.
An estate planning attorney may assist a client with the will-creation process. The attorney can make sure that the wording does not allow for any misinterpretations. Assistance may also be provided with selecting an executor. Ultimately, a little planning ahead of time could save a world of confusion and acrimony in the future.