A film memorabilia collection owned by Robin Williams has initiated a legal conflict between family members and Martin Luther King’s children fought over his Nobel medal and his Bible.
Unfortunately, personal property is frequently overlooked in the estate planning process. This can lead to plenty of legal conflicts and other conflicts over the future of collectibles, items that have a sentimental value and family heirlooms.
Even if you choose to mention these items in your will or other estate planning documents, they can be challenging for an heir to prove that he or she has the right to own it if another individual disputes the claim. For example, if there are multiple collectibles in contention and you’ve named specific items for certain people, this could generate arguments between family members.
If you have items of sentimental value or that you want to pass on to specific individuals, you should speak with an experienced estate planning attorney.
An estate planning attorney can help you develop an inventory of all of the assets you wish to pass on and include clear detail about how these are to be given to someone else. Doing so can minimize conflicts and put you in a better position going forward.
If you’re ready to talk about how to handle your personal property as well as other assets inside your estate, set up a meeting with a Massachusetts estate planning lawyer today.