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Prevent estate litigation by passing on assets while you’re alive

| Jun 7, 2019 | Estate Litigation |

Putting an estate plan together serves a few very important purposes for New Jersey residents. First, it offers one protection in the event of incapacitation. Second, it offers protection for one’s family in the event of one’s incapacitation or death. Finally, third, it is supposed to ensure that assets are distributed to the proper parties upon one’s death. Unfortunately, estate litigation often arises when family members or other parties take issue with how certain assets included in the estate are to be distributed.

The distribution of money is not usually behind estate disputes. They often result when figuring out who gets to keep certain items — even items of little monetary value. There are simply certain assets that are of emotional significance to some people, and there is nothing wrong with that.

One way to prevent family members from fighting over one’s things is to pass them on while still alive. Quite a few people do this so they can make sure that the individuals they want to receive certain items actually get them. If an issue does arise over the giving of an item, one is there to explain why it was passed on the way it was.

Of course, it may be impossible to distribute every asset one’s family members view as valuable before one’s passing. This does not mean that estate litigation is guaranteed to happen. Some family members are able to peacefully negotiate who will receive what. If estate litigation ends up being an issue, know that a New Jersey-based estate law attorney can assist one’s family through the process.