Ways Your Estate Plan Could Be Derailed by Dissatisfied Heirs
You’ve carefully planned out the disposition of your assets for after you pass away. Painstakingly, you have decided who gets what, never imagining that one of the heirs would challenge your desires. Or, if you anticipated trouble or a disgruntled heir, you put a clause in the testamentary document that tries to disinherit someone who challenges your wishes. However, an heir, beneficiary or other disinterested party could still seek to invalidate your testamentary plan in one or more ways after your death. Listed below are just three of the ways your estate planning documents could be torpedoed by a disgruntled heir:
1. Failure to properly execute the testamentary documents with all the formalities required by law. Are there the requisite signatures on the document? Is there an attestation clause? Is there language that the stating those who witnessed the testator sign the document believed the testator was of sound mind at the time of signing?
2. Was there undue influence exerted by a beneficiary upon a testator in order to have the testator change his will or trust document? Often time this scenario will play out where an individual was a caregiver or provided support in any number of ways to the maker of the testamentary instrument.
An allegation that the testator lacked the capacity to make a will or a trust. One way to combat this is to ensure that a qualified videographer makes a complete record of the execution of the document(s). During this session, questions can be asked of the testator and an accurate record can be made to counter any argument of a lack of capacity.
3. Just because you set out what you believe to be your final disposition of your assets, be aware that there could be challenges later. At Boznos Law, we are experienced estate planning lawyers who work hard to ensure your wishes are complied with after your death in whatever written testamentary document(s) best fit your individual situation.
With over 30 years’ experience in advising families and businesses on estate planning issues, let Boznos Law work with you to ensure you are ready to meet the challenges posed by the ever changing estate planning landscape. Call Bill Boznos today at (630) 375-1958 or contact us at through our website at www.boznoslawoffice.com
See our previous post about updating your Employee Handbook