Some Very Informal Considerations.
To Avoid nasty family bottle throwing episodes ( or
worse) and some really bad curse words following you into the hereafter.
Contra to an article in the Wall Street Journal, it is
not advisable to be open and clear
about an inheritance plan in a way that every family member or potential
heir is apprised of your final disbursement intents. This
candor often turns out to be a fool hardy effort at family tranquility
while you are living, which in reality foments rancor, and
haunts family relations long after you are finished living. Do not
be overly candid about your distributive intent. You
know...keep your cards close to your chest. Remember testamentary
dispositions may always be voided. In other words you can always
change you mind. Your heirs, you can be sure, know you can always
change your mind, and inevitably begin to lobby you for a better deal once
they hear of what they believe to be your initial ill thought,
unfair, silly or horrendous intentions. It is far better here to draw up
your final papers with a long time counsel or even some non-lawyer whose
integrity and intelligence and wisdom you really esteem. Have your final
intentions witnessed by at least two non- beneficiaries and notarized and
placed in a secure place... safe from intrusion. When asked who are
you leaving your stuff and big bucks to .... smile benignly and indicate
that you are giving it all a great deal of thought
Often it is a good idea to name a neutral third party
to perform the duties of executor or trustee, to avoid family members
placing their hands on each others throats when dividing up your assets.
Disinterested banks or similar institutions are often more interested in
control and maximizing their fees, and are not necessarily interested in the
best and subtle interest of the heirs and should be somewhat frowned upon.
If your heirs all like games... then by all means
set up a merry go round process for the party loving lot whom you imagine
govong your booty. A no guns permitted in the room provision here is advisable. Have
your heirs take turns picking out items they would like to have. One heir or
another will proclaim "I always wanted this item" or you really really wanted
him or her to have this or that item. On each round, a different blessed heir
goes first. Those who take items of less worth may get their feeling eased with aahh...money. Yes it is always the money. Name and pay some third
party to be the referee who reports to your executor on these going-ons...(ditto
for next paragraph.)
Consider:
When two or three or four heirs crave for some nutso reason
the same damn asset, and cannot kiss and hug and resolve the issue amicably,
make provisions for a silent auction or a writing auction, by writing your bid
on a bid board in front of the item. (Yes the kind so popular at fund raisers. )
In all events the darling heirs bid on the desired asset or assets they want.
Note: Warn the player that the winning bid price is then deducted from the
winning bidder's inheritance. Note: If no
body wants your old baseball memorabilia it will probably end up on eBay to
maximize the estate.
Consider
inserting clauses into your estate plans to minimize conflict, there are many,
such as wordings compelling a particular mediator, (rather than litigation in
terms of time and treasure and emotional wounds.), to resolve disputes.
Make provisions for authority and fees for the mediator. Hey this
stuff about death is
life.
Consider various really neat
"stopper clauses" that can flat out disinherit those ingrates and potential
troublemakers that are likely to dare to intimidate other heirs by challenging
aspects of your well thought out will or trust.. (You should see a lawyer
in your particular jurisdiction about these neat little provisions.)
Consider a a video or writing explaining your
reasoning and intentions with your testamentary dispositions a t your peril.
If you can not restrain your artistic drives... make sure you do not create any
unnecessary confusions by utilizing this gratuitous gambit. In other words they
may use your video thoughts to upset the will or trust. Try not to be giving
anyone hell in the last memories of your existence. Hmmm or why not
give-em' hell. Yeah... you probably should have a lawyer comment or
be at your video production.
Be very precise if you decide to
actually videotape your will or trust. A faulty or shaky video
testamentary disposition could be interpreted as you being the incompetent, that
some of your heirs no doubt always thought you were. These loveable
miscreants whom you shared your life with will be inclined to show your faulty
cinematic masterpiece to some otherwise 'bored to tears' probate judge as a sign
of your raving incapacity. DJG1.com