Houston Estate Planning and Elder Law Attorney Blog
So many factors go into a person’s estate plan, including a thoughtful inventory of the planner’s assets and a careful decision about how to divide those assets up. At our firm, we sometimes encounter difficult probate disputes over a decedent’s collectibles and heirlooms. On today’s blog, we cover some basic tools you can implement to avoid probate disputes over priceless items.
Create a Detailed Estate Plan
Because a family’s collectibles and heirlooms can often include an emotional value as opposed to just a monetary value, it is best to include detailed instructions about how you want those items to be distributed. Your estate plan should go beyond a typical list of monetary assets and debts. You should write a thorough list of items that you know your heirs might want to inherit, and you should include instructions for exactly who gets which item.
Communicate with Your Loved Ones
It will work out for everyone’s benefit if your loved ones know what to expect when you pass. We always recommend communicating early and often about your collectibles and heirlooms so that your heirs can have a clear understanding of how the items will be passed down. This way, you can also grasp which heirs feel a specific tie to which specific items, and you can keep this in mind when you develop your estate plan.
Consider Establishing a Trust or Hiring a Mediator
Because heirlooms can often carry a high emotional value, it can be worthwhile to put these items in the care of a trust, so that your loved ones can avoid probate altogether. If there is dispute about who should receive which item, you can also always seek the involvement of an unbiased mediator, and this person can help you and your loved ones work toward a favorable resolution for everyone involved. As always, you can also consult your Houston estate planning attorney to think through other ways to pass on your items as thoughtfully as possible.
Are You in Need of an Experienced Houston Estate Planning Attorney?
Thinking through your estate plan can be a complicated process, but if you hire the right team of Houston estate planning attorneys, you can make it as smooth as possible. At McCulloch & Miller, we understand the importance of family, as well as the importance of passing down memorable collectibles and heirlooms that hold significant value. We are prepared to help you navigate this process with as much care and precision as possible, taking the time to treat each client with the personalized attention they deserve. If you are in need of a firm to guide you through estate planning or probate administration, look no further than our team.
If you would like to set up a consultation with one of our Houston estate planning attorneys at McCulloch & Miller, give us a call as soon as possible at 713-936-9073. You can also fill out our online form to tell us about yourself and have a member of our team contact you about your legal needs.