It is certainly true that valuable assets can lead to estate disputes, and that’s often where people focus. For instance, someone may be leaving $1 million to their adult children, and they’re worried that the children are going to fight over what percentage of the funds they should receive. This is a potentially life-changing amount of money, so everyone is very invested in getting what they believe they deserve.
At the same time, though, it is important to remember that assets do not have to be valuable in the traditional sense to cause these disputes. In many cases, it is items with sentimental value that lead to conflicts.
Why sentimental value is different
Many varied and seemingly trivial items can hold sentimental value. Examples include books from childhood, family Bibles, pictures or artwork and even everyday items like a coffee mug or a set of dishes.
These are valuable to beneficiaries because they reflect the life they shared together and connect them to their memories of their parents. For some beneficiaries, getting these sentimental items could be much more important than items with a higher financial value.
But this can also create a very complex situation. If there is just one physical asset and three beneficiaries who all want it, is there a viable solution? With more expensive assets—where beneficiaries are just worried about getting money—the assets can be sold and the money split. But with something like a childhood book collection that may only be worth a few dollars, conflicts over who gets to keep it can become quite complicated.
It’s important to keep all of these family dynamics in mind when looking into potential legal options that could resolve such a situation.