Precautionary Moves To Prevent Or Simplify Probate Disputes
You have spent years trying to keep the peace between your feuding family members, and you have reached the conclusion that you only have a limited amount of time on Earth. Meanwhile, you figured out long ago that your financial resources are limited. Even with the nimblest estate planning sleight of hand, there is no way that all of your family members can inherit as much money from you as they want. Eventually, the personal representative of your estate is the one who will have to hear about it. You might not be able to reach an understanding with all of your relatives during your lifetime, and you don’t have to; you have the final say about who inherits what from your estate. You can, however, make life easier for the personal representative. For help writing an airtight will that will make it easier to resolve probate disputes, contact a Tampa estate planning lawyer.
Florida Laws About Contesting a Will
The bad news is that Florida law does not summarily prohibit the contesting of a will during probate, as some states do. The good news is that, by law, the personal representative of an estate has the right to use funds from the estate to pay for legal counsel in the event that someone challenges the will; in some other states, you must get the probate court’s approval before hiring a lawyer to defend the estate against a challenge to the will, or else use your own money to pay your probate lawyer.
Use Your Will to Respond Directly to Potential Challenges
Ambiguity is your worst enemy in estate planning; your will should be specific not only about who inherits, but also about who does not inherit. You might think that, if you say, “My daughter Brielle Bloggins of Clearwater, Florida shall inherit my entire estate,” there is only one possible interpretation, but it is even better to also say, “My sister Bronwyn Bloggins of Frostproof, Florida shall not inherit any assets from my estate,” if that is what you mean.
Separate Routes of Inheritance for Family Members Who Can’t Stand Each Other
Estate planning lawyers often tell you that rich people are not the only ones who can benefit from establishing a trust, and one of the reasons for that is that a family member is likely to be less angry about being excluded from your will if he or she receives an inheritance from a trust. If you know that, regardless of what your will says, your children are going to fight tooth and nail to ensure that their stepmother gets as little inheritance as possible, you can separate them by having them inherit from separate legal entities. Let your children inherit your estate after probate, and set up a trust for your wife, or the other way around. To prevent contradictions, you should sign a postnuptial agreement saying that your spouse can inherit through the trust and not through your will.
Contact David Toback About Preventing Probate Disputes
A Central Florida estate planning lawyer can help you write a will that addresses existing family conflicts. Contact David Toback in Tampa, Florida to set up a consultation.
Source:
kiplinger.com/retirement/how-to-respond-to-a-contested-will
