Why Dealing With an Inheritance Can Be a Pain

The death of a loved one is nearly always a more complex process than you may expect. The aftermath can be another ordeal entirely. Even just figuring out the inheritance can be painful and traumatizing if not done correctly.

High Emotions

Inevitably, people’s emotions will be running high. Grief is a strange thing. Most people have to process their grief in stages. Thus, some of your family and friends may feel numb, depressed, angry, or hopeless. That can contribute to the difficulty of figuring out the deceased loved one’s inheritance. When you also consider the fact that people may have their feelings hurt by some of the inheritance decisions made, as well as the large amounts of money or valuable assets that may be involved, the entire thing can become an emotional mess quickly. Sometimes, having someone to mediate (maybe even a lawyer) would be a good idea.

Probate Court

Probate court is an exhausting and obnoxious ordeal that ideally should be avoided entirely. Theoretically, the probate court will only be involved if the will is deemed invalid. There are many reasons this might be–having a will that has not been properly legally notarized by an estate lawyer is a common reason–but it’s in your best interest to avoid that possibility regardless. If you do end up going to probate, don’t panic; it isn’t a guarantee that you will lose everything. Probate can take several months to complete, so you should be patient through the process. Talk to estate lawyers before the will is made and talk to probate lawyers when the process begins to get the expertise you need.

Getting It Figured Out Beforehand

If you want the inheritance process to be as smooth as possible, you will need to vigilantly prepare as soon as possible. Even if there is no obvious reason why a tragedy might strike, you should do what you can now. That way nobody will be caught in a bad financial position when they least expect it. You should look into the advantages and disadvantages of setting up a will or a trust. Once you have your estate plan created, make sure to keep it updated with the relevant people. 

Nobody likes to think about their own death or the death of a loved one. But if you don’t educate yourself now, an unexpected emergency could put you in a difficult position. Do what you can to prepare emotionally and logistically. 

Check out this article on what you shouldn’t forget when putting together your estate plan!