A will is a fundamental component of any estate plan. This document determines who will inherit your assets. You can also utilize a will to designate guardians for your minor children and much more.
Nonetheless, a will is only effective if it truly carries out your final wishes. If there is doubt over this, then disputes can arise. Will contests can be drawn out and expensive, so they are best avoided all together.
How can you prevent will disputes?
Review your will regularly
It’s not uncommon for individuals to draft a will and then leave it for years. But estate planning isn’t a one-time event. Your will needs to adapt to your current circumstances. For instance, if your family has welcomed new additions then you’ll want your will to account for this.
When you do update your will, it’s important to nullify any previously existing versions. While the newest version will generally take precedence, it isn’t worth having the risk of previous documents potentially confusing the process.
Talk it through with your family
Nobody should influence the terms of your will directly, but that doesn’t mean you can’t include your loved ones in your thought process. Including your family can relieve much of the potential for disputes. Helping them to understand your wishes in greater detail makes it much more likely that they will challenge them.
The importance of drafting a will cannot be understated. To ensure that you have taken all the appropriate steps, it will benefit you to have legal guidance behind you. This will also significantly reduce the risk of will contests in the future.