Losing a loved one is always a stressful and emotional time. With it also comes the need to organize your loved one's finances and often it is necessary to go through the process of probate. When learning of a loved one's last will, you may be surprised or believe that it is not what he or she truly intended. Perhaps you also think that another person has coerced your loved one into writing a will that was favorable to him or her.
Many people assume that a will is a cookie-cutter document, something that works the same way for everyone.
At some point, we all have to face the realities of passing our estate over to our children and other family members. Although it might not be the most uplifting of things to organize, it is a great way to start thinking about the legacy that you wish to leave for your loved ones and the positive things that you see in their futures.
A successful contestation of a will cannot simply come about because a member of the family is not happy with the will. Going through the process of the contestation of a will is not a simple one, and it also demands that there are valid grounds as to why the will is faulty or should be questioned.
When married couples start to plan their estate, they may realize that it is much more practical to set up a trust that they share together rather than to set up one individually. This process is known as a shared marital trust, or a shared living trust. Trusts mean that the transfer of assets from the grantors to the beneficiaries will avoid going through probate.
When planning your will, you must have in mind all of the possible scenarios that could result after your death. You cannot take it for granted that your wishes will be blindly accepted and welcomed among all family members and loved ones.
While each state has their own respective requirements for how wills must be written in order to be deemed enforceable, there are many commonalities that are nonnegotiable must haves.
If your will is written with enough detail and processed in the proper manner, it will be difficult for members of your family to successfully contest against the intentions of your will. However, you may rightly have some concerns about family conflict taking place after your death.
A will is a special type of legal document because it speaks on behalf of a person that has passed away. The will states, among other things, who is entitled to that person's property and other assets.
Many people assume that as long as they have a will, then everything will be fine if they pass away. Unfortunately, a person's wishes may change drastically throughout the course of his or her life, and an old will may contain outdated directives — sometimes with devastating effects for the ones you love. Just such a situation arose recently because a mother neglected to update her will, posing a serious threat to her daughter and grandchildren.