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Estate litigation on the rise for Baby Boomers inheriting money

Boca Raton residents looking to avoid inheritance issues may be interested in an article discussing the rise of legal estate battles. Some argue that this increase is because this is the first generation to pass on wealth in many families.

As parents who grew up during or after the Depression are passing away, their estates are being inherited by their Baby Boomer children. Professionals who deal with estate disputes say that, more than ever, these Boomer children are beginning legal battles over how that inheritance is divided. A will contest, which at one time was unheard of except for in the most wealthy families in the country, is becoming more commonplace. Some speculate that this is the first generation where many families actually have enough wealth that is worth fighting for.

There may be other reasons for the increase in estate litigation. One attorney attributes this to the increasing need and desperation for funds, which pushes inheritors to bring their family troubles out in the open in order to maximize their inheritance. He also points out that there is less of a concern about the privacy of family disputes. Many of these cases end up settling out of court. In those cases, another attorney says, the family often moves past their conflict. When litigation drags out for a long time, however, the family wounds are more difficult to heal.

Many of these estate issues involve wills and trusts, though the cost of parental care is another big point of contention. In situations like these, an attorney with experience in estate planning may be able to help avoid litigation by creating the proper estate documents or working with the heirs to find a fair solution to their inheritance issues.

Source: Insurance News , "Inheritance conflicts pit relatives against one another", Tim Grant, July 04, 2014

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