Planning your estate is one of the most important things you will do. Before you pass away, it is ideal to have your estate sorted out as much as possible so that your family and loved ones do not have to go through what can be a sad and difficult process.
When you plan your estate, you will name those who you would like to inherit your assets in your will. As the years go on, you can make changes to your will as you see fit. You can even remove one or more people so that they do not inherit anything. The following are some things to keep in mind if you want to remove an immediate family member from your estate:
When you intend to remove a beneficiary from your estate, there are many things you will need to consider, especially if the person is an immediate family member. For most people, you can simply remove the person from the will.
If the person you would like to remove is your child or a spouse, things can be a little more complex. Many states will have a set of requirements to be satisfied to change your estate. Some states will require you to show evidence or a clear reason as to why you want to make such a change, such as a divorce decree or evidence of drug abuse.
A spouse can also waive his or her rights to an inheritance. You will need to show proof if this is the case for you. A prenuptial agreement is an ideal piece of proof in this instance.
The Easiest Way to Remove an Immediate Family Member from Your Estate
If you do not want to go through the legal motions of removing a spouse or immediate family member from a will, there is a way you can do so with some ease. This option is also less expensive than the alternative.
You will need to leave a small monetary inheritance or inexpensive property to that person. You can then include a no-contest clause in your documents. This way, no one will be able to change or challenge your will. Although you will be out a small amount, your wishes will be carried out and no changes will ever be made.
Making changes to who inherits your estate is a very emotional decision that should not be made lightly. Be sure you speak to your attorney before you finalize your decision so that you are certain you want the changes to be permanent. To learn more, contact a law firm like Skeen Law Offices.