Photo of Professionals at Rebecca W. Geyer & Associates P.C.

Caring For Generations

Bequeathing Assets and Lessons, Not Burdens, to Your Heirs

by | Feb 5, 2025 | estate administration, Estate Planning, estate planning documents, estate planning lawyer

After loved ones pass away, their estates must be collected and managed. No easy task, this, because there are many moving parts to estate administration, including gathering property, distributing assets and paying any remaining debts. An executor, usually the surviving spouse or another family member, is chosen to make sure the deceased’s last wishes are granted…

Unfortunately, as a recent article in Financial Advisor magazine discusses, and as we at Geyer Law have realized over decades of working with our Indiana estate planning clients, “while family members may understand the grantor’s values and dynamics, they are susceptible to biases, favoritism, or internal conflicts”. The article’s author, Matthew Erskine, names two reasons that settling an estate can be problematic and stressful for heirs, particularly during a time of grief:

1. Managing complex assets (business interests or collections, for example) may require specialized knowledge that the chosen heir may lack.

2. Family members may face personal challenges, such as health issues or divided loyalties.

“In some families, heirs descend on a decedent’s home even before the funeral, cherry-picking heirlooms, and other valuables,” Barbara Weltman laments in Investopedia. “An executor may unfortunately create family tensions by virtue of simply doing their job.” “That job” can represent an enormous time drain, with tasks including:

  • contacting various government agencies, including the IRS, the Social Security Administration, state tax authorities, a state’s unclaimed property departments, and insurance companies
  • selling a home
  • distributing assets
  • settling deb
  • dealing with heirs impatient to claim their share of an inheritance
  • dealing with charitable organizations

In short, as lawvex.com describes the role of executors, “Executors must not only navigate the complexities of legal obligations but also manage their grief, family dynamics, and the expectations of heirs.”

At Geyer Law, one of the reasons we refer to ourselves as counselors is that many aspects of the estate planning process are not about death at all, but about passing on lessons learned in addition to assets earned The key, we’ve found, to avoiding post-death disputes and bitterness among heirs is to hold family meetings to communicate parents’ intentions and the reasoning behind them. Sharing thoughts and even fears enhances closeness with heirs – and among heirs..

– by Cara M. Chittenden, Associate Attorney with Rebecca W. Geyer & Associates