Many people in Pennsylvania prefer to not think about estate planning. But what if you have beneficiaries who are known for causing interpersonal drama? It can be difficult to know how to deal with this type of situation, but it’s possible to create an estate plan that takes these beneficiaries into account.
Communicate with everyone
Usually, the best way to start with estate planning is to communicate clearly with all of your beneficiaries. This can be challenging if they’re known for being dramatic, but it’s important to try and explain clearly and concisely why you have chosen to distribute what you have among them. Make sure that everyone knows their rights and responsibilities when it comes to the estate.
Make sure the plan is fair
It’s important to ensure everyone receives a fair portion of your estate, regardless of their personality. This can be difficult when dealing with someone who may be more vocal or visible than others, but it’s essential to ensure that everyone gets treated fairly and equally under the estate plan.
Consider other options
You may want to consider other options for dispersing your assets. For example, you could set up an irrevocable trust that’s designed to protect the asset from dramatic beneficiaries who would like to take more than their share. You can also set up specific trusts and funds that are designed to benefit all of the beneficiaries.
Granted, it can be difficult to plan your estate when you have beneficiaries who may want more than their fair share. But with clear communication, a fair and equitable distribution of assets, and alternate options like setting up trusts or funds, it is possible to ensure that everyone’s rights are respected in the event of an unexpected death.