Estate Planning: Three Fundamental Tips for Preventing Will Contests

The preparation of a will allows one to exercise their freedom to leave their assets to people of their choice. In most cases, making a valid will by following the standard legal provisions will ensure your property is inherited according to your wishes. However, you should know that wills are open to a contest in court if the potential beneficiaries do not trust the fairness. For instance, family members and dependents of the deceased can apply to have the document revoked. If you are concerned about the possibility of a will contest after your death, here are some tips for your estate planning process.

Prepare the Will Early

Wills are often contested on the grounds of the maker lacking the capacity to make sound choices. In simple terms, if the potential beneficiaries can prove that the deceased was not in their right mind during the creation of the will, they could succeed in changing or revoking the will. Therefore, you should consider making your will as soon as possible. Timely drafting is crucial for older or ailing individuals because mental capacity will be called into question if the document is made just before death. Also, make sure a lawyer is involved in drafting and signing the will to confirm the validity.

Update the Document

If your circumstances change and your will remains the same, you will open up your inheritance plans to a contest. Therefore, do not ignore the will after the initial creation. Instead, conduct regular reviews and update the details as necessary to incorporate new information as your life changes. Keep in mind that major life events such as marriage or divorce need to be taken into account. Otherwise, the family provision application will allow the entire document to be called into question and even dismissed. If you want to leave out family members in your will, make sure it shows the contemplation of your current life. Additionally, discuss the options for explaining your choices with your estate lawyer by incorporating it in the will or writing a letter of intent.

Discuss Alternatives

Finally, consult your estate planning lawyer on the alternatives to passing on your inheritance in a will. A different method could provide for your beneficiaries without the risk of contests or fights. For instance, you can gift your assets by transferring them when you are alive. Also, you can choose a strategic arrangement like joint ownership, allowing one party to inherit property after the other's death.

Contact an estate planning solicitor to learn more about wills.

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