What if we don’t quite receive the joy, we had hoped for during the holiday season? When spending time with family, it is almost unavoidable that disagreements arise, especially during a period when we have been dealing with the pandemic. It’s no longer the same as it was when you were a child – or the change you hoped for hasn’t happened yet.
The holidays are an excellent time to take a realistic look at family dynamics. It makes sense to plan for them when it comes time for your heirs to inherit from you. This thoughtfulness can build a legacy that accounts for differences and seeks to even them out as much as possible.
Take time to work out solutions with an experienced elder law attorney. Those who have devoted our service to elders have seen so many situations where careful estate planning can alleviate or avoid family fights over inheritance.
We have seen sibling rivalry becomes especially thorny between children of different marriages. Disputes that may have simmered during a parent’s lifetime can boil over in the context of inheritance. We know how to plan to avoid those disputes turning into lawsuits.
We know how to plan to allocate your property when family members have different financial needs. A wealthy child may want to hang on to the property that a less-advantaged child would want to sell for the immediate return. We can help you craft a plan that accounts for these differences.
We know how to construct a plan to care for family members who are more dependent than others, whether that dependency stems from disability, financial or substance-abuse difficulties, or the need for government assistance.
If you married again late in life, we know how to plan to divide property fairly between step-children.
If you have given one child money to start a business, or another to buy a home, or another with student debt, we will help you plan to avoid future disputes between children whom you have not yet favored.
Keep an eye out for family rifts showing up during the holidays, and then come see us. Let us help you leave behind the legacy you want for your loved ones.
When you are ready to take the next step, contact our Chicago area offices by calling 312-878-0155. We have three convenient locations to assist you.