Will unequal transfers in your estate plan invite a will contest?
It may not come as a surprise to learn that unequal distributions can be one source of contention among heirs, possibly leading to a will contest. Yet there can be legitimate reasons for making different distributions, such as an heir that has a disability, or an individual who had children from a previous marriage, or perhaps an heir with debt management struggles.
One way to proactively approach this potential hurdle is to memorialize one’s intentions in writing. In fact, potential heirs could even be informed of an estate plan so that it doesn’t come as a surprise later. This meeting might convince a court of a grantor’s intentions, even if heirs are unhappy with the distributions.
With the help of a law firm that focuses on estates and trusts, a proactive approach to estate planning can be possible. An individual might even set a plan into motion during his or her lifetime by utilizing gift transfers or revocable trusts. No two estates are the same, which is why our attorneys utilize a variety of legal, financial and insurance instruments to make our clients’ intentions possible.
For assets that an individual does not want to distribute until his or her death, a will might be sufficient. At the same time, a will can also be used to create trusts, as well as guardianships for any minor children. Trusts can also be created during an individual’s lifetime, with detailed instructions regarding its purpose and any restrictions. From planning to representing executors to serving as a trustee, our estate planning law firm can provide a variety of services to our clients.