Estate planning is a crucial part of your life. You should have the bulk of your estate planned before you pass away so that your family is not left dealing with the difficult task of sorting out your final wishes. As you plan your estate, you will make a will. A will dictates exactly how you want your assets handled once you pass away. It also includes the names of those you wish to receive your assets. As you plan your estate, you can make changes at different points in time. If you wish to remove a beneficiary, you can do so even if the person is a close family member. Here are some things to think about if you want to take someone out of your will:
What Should You Think About Before Removing a Beneficiary?
As you think about removing someone from your will, you need to think carefully. There are some critical things to consider, especially if the person you want to remove from your will is a member of your immediate family. If the person you want to take out of your will is not your child or your spouse, you can simply amend your will and remove them as a beneficiary.
If you want to remove a spouse or a child, the process can get more difficult. Some states require you to go through some special steps to remove a spouse or child from your will. You might have to provide evidence as to why the person must be removed as a beneficiary. This can include evidence of a recent divorce, excessive drug use, or other evidence that would merit the removal from your will.
What Is the Most Efficient Way To Remove an Immediate Family Member From Your Will?
If you want to remove a spouse or child from your will without jumping through special legal hoops, there is something you can do, though it might not be the most ideal. What you need to do is keep the person in your will but leave them a small monetary inheritance. Then, include a no-contest clause in your will. This clause will prevent anyone from challenging the will. This way, the person will not get much of your estate but also cannot challenge the will in court. In the end, your assets go where you want them with little effort on your part other than changing the paperwork.
For more information, contact a wills attorney in your area.Share