Many different challenges can arise with respect to estate planning and the execution of an estate plan, some of which involve may court or difficulty due to so many options (comparing trusts, for example). However, even if you have decided which type of estate plan will work out best for you, you could face a variety of difficulties. For example, if you have decided to set up a will, you may have questions related to the way in which you want your assets split up among beneficiaries, or who to name as the executor of your will.
These can be tough decisions to make and they often involve a person’s loved ones, such as their spouse, children, and other relatives. You may want to talk with your spouse about your will and this could be helpful in a number of ways, from clearing up uncertainty or confusion to providing a better sense of what will happen in the future. If you are thinking about naming your spouse as the executor, it might be a good idea to discuss some of the responsibilities they will have to take on as the executor and make sure that they are up for the task. Or, you might want to go over your beneficiaries with your spouse and discuss how your property will be split up.
Communication can lead to a feeling of peace and better understanding, especially when it comes to an estate plan. Head to our wills and trusts section to read more on estate plan decisions.