When you write a will and living trust, you have control over how your assets will be distributed after your death. However, if someone in your family disputes plan, a probate court judge could end up with the final say over who gets your property.
Emotions run high when someone dies. If family members aren’t content with what they’ve received, or don’t believe your wishes are being interpreted properly, they may contest your documents. Contests can drag out for years, preventing your beneficiaries from getting the assets you wanted them to receive.
As part of creating an estate plan, look for ways to reduce the possibility that someone could challenge your wishes. Here are some steps you can take to ward off a contest after your death:
1. Start early. Make your estate plan while you are of sound mind. If you wait until your health is failing, or your mind is impacted by an accident, your will becomes vulnerable to claims that you lacked sufficient mental capacity to sign.
2. Get qualified legal advice. There are do-it-yourself books and online tools available but using an attorney who focuses on estate planning is the best way to ensure it is properly executed and valid.
3. Consider trusts. A living trust can direct how your assets are managed, held and distributed to you upon your disability and to your beneficiaries after your death. With a living trust, you generally can avoid probate and many of its risks of conflict, fees and expenses. You can also increase control over how your estate is settled. Your beneficiaries will receive their inheritance more quickly and privately.
4. Write your plan without interference. Avoid complaints that someone exerted undue influence over you. To help avoid such contests. It’s best to not include beneficiaries in meetings with your attorney when possible.