If you want to avoid family fights over your estate, take a long hard look at your closet.
Personal property is something that people often fail to consider when drawing up wills and other estate planning documents, attorney John J. Scroggin told an audience of financial planners last week at the FPA Be conference in Nashville.
“The single biggest point of conflict among family members is not the million dollars over here,” said Scroggin, who is an accredited estate planner and a partner with the Roswell, Georgia-based law firm Scroggin & Co.
“It’s the yellow Tweety Bird [figurine] that sat in mom’s kitchen for 40 years.”
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(That Tweety bird, a real contested item in a case Scroggin handled, was worth about $1.50 based on comparable eBay auctions, he said. He offered to buy a duplicate and not tell the feuding siblings who had mom’s. They declined.)
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from DeWitt Law Firm, PLLC
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