Planning a property you know will be surprising

Most families have certain expectations about inheritance. However, when all is said and done, the only person who has the right to determine the beneficiaries is the person who plans their estate. Therefore, even though your siblings, relatives or children assume that you will leave your possessions to them, you are completely free to exclude them from your will if you wish. For example, you may have a strong desire to leave all of your possessions to charity.

If you suspect that your final wishes will surprise many after your death, it is especially important that you create a bulletproof estate plan. This is because controversial estate plans are likely to be challenged by those who were natural heirs. Here is an overview of how to plan your property well enough to avoid complications.

Clearly name the beneficiaries

Not all of your assets will pass through your will, so naming the beneficiaries in your will is not enough. For example, your pension, life insurance, and other systems will likely have the option to designate the beneficiary “payable on death.” You can name specific beneficiaries for each asset, and these assets will not go through probate.

Leave a message

If your estate plan is going to be viewed as controversial, one of the best things you can do is leave a message. In this message, you can specify the exact reasons why you chose the options that you have. This will give the natural heirs some sense of closure, and will likely discourage them from being challenged at will.

Talk to people about your plans

It is best to have those you love and trust familiar with your estate plan throughout your life. This will help them prepare.

Planning a property is never an easy process, but it can be made easier by taking early action. If you want to update your real estate plan, you must be proactive in your approach.

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