Understanding challenges to estate plans
Most people put off making a will because they are uncomfortable thinking about what will happen to their property when they die. They may think about estate planning, but they fail to take action because they decide to wait until later in life, when they have more assets to distribute. Unfortunately, some of these individuals may pass away before they are able to create documents that express their final wishes.
Even when an individual creates a will, there may still be problems if procedures are not properly followed. This could lead to a contesting of the will by family members or disappointed heirs, which may place inheritances at risk.
When a person’s will is being carried out after they pass away, some beneficiaries may feel that there are problems that need to be addressed. For example, they may allege that a certain individual influenced a lot of control over the deceased when he or she was making a will. This undue influence could result in the person receiving a large amount of the estate, which could upset others.
The mental capacity of the individual at the time the estate plan is made or modified may also be an issue. As we get older, it is not uncommon for us to experience health problems that may make it difficult for us to understand what is happening. Some beneficiaries may take advantage of individuals struggling with these issues, and coerce them into making changes in their wills.
There are options available for individuals to ensure that these things do not happen when they pass away. First, they should be sure that their estate plan is current. If anything has changed regarding an addition or subtraction to family or finances, these individuals should check to see that their will reflects these changes.
If you have questions about your will or other estate planning documents, speak to an experienced attorney in your area to make sure that your plan is reflective of your wishes. It is important that these documents are created properly, or there may be delays in the distribution of your assets.
You may think that your estate plan is comprehensive, but things can change over time. An attorney can review the plan that you have in place, and make any modifications that may be necessary. This simple step can save your family a lot of stress at an already difficult time.