When are you safe from meddling relatives if not when you’re dead?

It turns out, even death is no safe haven, as this article by Tracy Breton in The Providence Journal suggests. According to the article, the will of University of Rhode Island professor Beatrice S. Demers, who died last year at the age of 100, is being disputed by distant relatives. Demers’ distant cousins are arguing that her will, which leaves millions of dollars to various charities, is invalid on the grounds that Demers was not of sound mind when she signed it back in 2002.

Unfortunately, contested wills and trusts are not as unusual an occurrence as we’d like to think. Money—especially large sums of it—can turn reasonable people into irrational creatures. Luckily, estate planning attorneys have experience with this, and have made it their business to ensure that your final wishes are respected.

One tool estate planning attorneys use to protect your will or trust is something called a “no contest clause”. A no contest clause states that anyone contesting your document without probable cause is automatically disinherited. Some no contest clauses will allow the contester to walk away with nothing more than $1, or some other insignificant amount.

Of course, particular care must be taken in cases such as the one in the article mentioned above, where dementia may be a factor. Two witnesses are required at the signing of a will for this very reason; not only to ensure that no force or pressure is involved, but also to testify that the person signing the will is indeed of sound mind.

If you have had an attorney’s help in creating your will (as opposed to creating one online or using a home software program) you have a further layer of protection, because your attorney will have ascertained your state of mind through personal conversations, and be able to bear witness to that fact if necessary.

Of course, your family would never oppose your final wishes. But just to be safe, make sure your estate plan has an effective no contest clause. You never know when a second-cousin-twice-removed may pop out of the woodwork.

www.blogprofs.com

According to this article by the Associated Press, the tragic death of actor Heath Ledger is followed by the further tragedy of a will that was filed in Australia in 2003 and never updated to provide for his 2 year old daughter with actress Michelle Williams. The entirety of Ledger’s estate is instead left to his parents and sister.

Sadly, this is not an uncommon scenario. Most people would like to think about their estate plan once and never think about it again. But our lives, families, and situations change, and it is imperative that we update our estate planning documents to reflect those changes.

Ledger’s parents have said that they will make sure their granddaughter is provided for, but not everybody is going to be as responsible or trustworthy. The only way to guarantee that your estate will be distributed according to your wishes, or that your loved ones are provided for, is to keep your estate plan fresh.

A yearly review and a call to your attorney whenever your life has seen major changes is not such a tall order. In fact, it’s a very small price to pay to prevent a situation like the one in the article above. One tragedy is enough for any family. Lessen the hurt for yours by keeping your estate plan up to date.

www.blogprofs.com