Time To Plan For Your Passing? 4 Ways To Help The Division Of Property Go Smoothly

13 January 2016 by Jonathan Phillips

It's time to take care of your estate planning. You need to make your passing as easy as possible for your family. You also need to make sure that your wishes are carried out after you're gone. Pre-planning is the best way to ensure that both of those needs are met. Pre-planning will also ensure that your family isn't left to make important decisions while they're dealing with your passing. Pre-planning can also assist you in the division of your property. Here are some steps you can take to make sure the division of your property remains simple and stress-free.

Label Your Belongings

After you pass away, your family is going to want to know what you've left to them. It can be a stressful time as everyone sorts through your personal belongings. If you want to make sure that everything gets divided up properly, take the time to label your belongings. Make a list of who gets what and then go through your home and place a label on each item. After you pass away, your family members will be able to divide your property based on the labels you've left behind.

Gift It Early

You know what items each of your children are partial to. Make sure you're there to enjoy the moment by gifting special keepsakes early. Gifting those special items will allow you to create lasting memories for your children. You can make the moment more special by gifting the items for special occasions such as weddings, holidays or birthdays. You might also want to plan a special day for each of your children so that the special gifting can take place between you and the person receiving the gift. Gifting special items early allows you to watch your child enjoy those prized possessions, and will prevent mix-ups after you've passed away.

Exchange Them for Family Memories

If the idea of dividing up your personal property doesn't appeal to you, you might want to consider exchanging those belongings for new family memories. Gather the items that you'd be gifting to your children and sell them for cash instead. Use the proceeds from the sale of those items to pay for a family vacation.

Let Lawyers Handle It

If you foresee problems after you pass away, you should sit down with a good probate lawyer—like David R Webb Attorney or other practicing lawyers. Having everything in writing and legal can help prevent family discord after you pass away. Your attorney can help you create design a will or living trust that will ensure your wishes are carried out.

Don't leave your estate to chance. The tips provided above will help ensure that your division of property goes smoothly. For further assistance with your estate planning, be sure to sit down with a probate lawyer in your area.

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