Having an estate plan is a smart step, no matter your income level, the size of your estate or the value of the assets you have. However, simply having plans in place may not be enough to protect your interests. It is also critical to review and update plans as needed every few years.
As the executor of your parent's estate, you likely already know that you have a lot of work cut out for you. What may weigh heavily on your mind is the likelihood that your siblings will cause conflict during the probate proceedings. Certainly, sibling rivalry can play a considerable role in estate disputes, and you may even find yourself having to deal with litigation.