Estate planning can be a difficult topic, but it can help avoid a lot of pain and financial costs for your family down the line. One of the best ways to help make things easier on your inheritors is to add mediation provisions to your will. In Maryland, you want to make things as easy for your loved ones as possible.
What is the benefit of mediation provisions?
When it comes to an estate, especially a large estate, there is always the risk of a dispute or a contest over the provisions and distribution of assets. This is an unfortunate side effect of the wealth accumulated. Not only can this lead to an expensive and prolonged legal battle, but it can also fracture relationships among the people named and not named in the will.
By adding mediation provisions to estate planning and making that a core part of the will, you can provide a neutral, objective and low-cost venue for people to raise disputes or problems that they have with the will. Mediation is a cheaper alternative to a court battle, but it lets people work out disputes with the same level of rigor. It can also lower the temperature of these disputes by removing them from the oppositional context of the courtroom.
Should you add mediation provisions to your estate plan?
If you are concerned that there might be a dispute or conflict among your heirs, then it is a good idea to add mediation provisions to your will that can short-circuit these conflicts and tone them down. This can be financially beneficial for everyone involved and reduce the risk of an emotional breakup among family members or friends.