Kristin Shirahama Quoted in The Wall Street Journal’s “Pass On Your Heirlooms, Not Family Drama”
Dividing personal property among heirs can create disputes, drag out the estate process and lead to lingering resentments, but it doesn’t have to. Creating a well-drafted will, designating the right person to handle your estate and distribute you personal property, and specifying a distribution method can make the process go smoothly and prevent family squabbles. Kristin Shirahama spoke with The Wall Street Journal about how to approach estate planning creatively and divvy up inherited items.
The individual you select to handle your estate typically distributes the personal property, so pick carefully and specify how much power they have. “Are they going to hear everybody out and help the family move on?” said Kristin.
It’s also important to be specific about who gets what – you can spell this out in your will or trust by describing the item in detail and including the name of the person who should inherit it. Spelling out the distribution method in the will or trust can help prevent conflicts.
“Generally, children behave well when the parents have set the expectations,” said Kristin.
Continue reading “Pass On Your Heirlooms, Not Family Drama” on the Wall Street Journal website (subscription required).
Tagged In: estate planning, trust, will
