With estate planning, clearly outlining your wishes can prevent disputes. If there are questions, your loved ones may choose to contest your will, which will put strain on your family.
While you cannot always avoid will contests, taking certain actions can greatly reduce concerns regarding your estate plan.
Be clear and specific in your language
One of the key reasons for contested wills is ambiguity. However, clear and precise language ensures a greater understanding. Clearly identify your beneficiaries and state how to distribute assets. Also, avoid vague terms that may lead to disputes.
Update your will regularly
Ensure that your will reflects your current situation by reviewing and updating it regularly. Major life events such as marriages, births or deaths should prompt a review of your will to ensure it remains accurate and relevant. Remember, life is dynamic, and so are your circumstances.
Choose a reliable executor
Selecting the right executor is another important factor in avoiding will contests. Your executor must carry out your wishes, so choose someone trustworthy, organized and capable. Also, discuss your decision with the chosen individual to ensure they are willing to take on the role.
Clearly state reasons for exclusions
If you choose to exclude someone from your will, provide clear reasons for doing so. This can help deter potential challenges and provide transparency. While you are not required to justify your decisions, explaining your choices can reduce the likelihood of disputes.
Include a no-contest clause
A no-contest clause stipulates that anyone who contests the will and loses will forfeit their inheritance. While not enforceable in every jurisdiction, a no-contest clause can act as a deterrent.
The right steps help ensure that your loved ones can navigate a difficult time without the added stress of a contested will. Proper planning now can lead to a smoother transition for your family in the future.
