Lynnwood Law Blog

Many inheritance disputes arise when one heir thinks that another used undue influence to convince a parent or other family member to change their estate plan.

Experts note that a position of power is often involved. For instance, the heir is taking care of an elderly individual with mental or physical ailments. This may mean that the elderly person thinks they have to go along with whatever the heir suggests.

One of the sad realities of life is that as people age, their bodies undoubtedly deteriorate. A deterioration in their mental capacity may also accompany that of their physical functions. If this is happening to one that you love, you may be concerned about their ability to take care of both themselves and their personal matters. Many with such concerns come to us here at Riach Gese Jacobs PLLC wondering if there is anything they can do to help ensure that such an aging and ailing individual is taken care of. One way to do so is to seek guardianship.

Washington state allows guardianship to be granted over adults for whom disability has led to their incapacity (in this context, “incapacity” refers to an inability to care for oneself). Disabilities recognized as contributing to incapacity include:

• A deterioration in physical and mental capabilities
• Mental illness
• Developmental disabilities

You have likely heard how most Americans do not have an estate plan and how many have not even written a will. That is a problem and must be addressed. But there's another side of it that needs to get consideration: Even among those who do have an estate plan, most children do not know what it says or what it includes.

What this means is that many parents know they need a plan, but they still feel uncomfortable having a conversation with the kids about it. Maybe they don't want to bring it up because it feels stressful or awkward. Maybe they have always considered financial details to be private information. There are a lot of reasons for this lack of communication, and the reality is that it breeds many potential problems down the line.

After the death of a king in ancient Scandinavia, survivors placed all his treasures on a barge and set it on fire. In order to inherit, surviving offspring needed to brave the flames, but it is unclear how many attempted to do so. This is an extreme method of avoiding inheritance disputes that would probably not be practical in 21st-century Seattle. Nevertheless, inheritance disputes among siblings can turn ugly. You should take steps now to prevent the situation among your children from escalating after your death. 

According to Forbes, you can arrange for an auction of all assets after the deaths of both you and your spouse or partner. Similar to the custom of ancient Scandinavia, though less extreme, this step gives your children the opportunity to bid on items of importance during the sale, and once the auction is over, all your children receive an equal share of the profits.