When there are legal mistakes made in a will, there is a possibility that a family member could successfully contest it. If you want your final wishes to be respected and honored, it is important that your will is legally sound. To help you avoid a situation in which the will is contested, here are some common will-making mistakes to avoid.
Failing to Research State Laws
Some people mistakenly believe that they do not have to adhere to state laws when making a will. However, if a will fails to meet certain requirements, the will could be tossed during probate and the state would have the final say over how assets are divided.
When drafting your will, it is important that you take the time to review your state's laws. The laws vary from state to state, so if you move, you will need to update your will to take into account your new state's laws.
Forgetting to Consider Taxes
Your will is a financial document that could have long-lasting tax implications for your estate and your heirs. During the drafting of the will, you need to factor those potential implications into your decision-making.
For instance, your executor will have to pay your final tax bill. If you failed to leave money for this, he or she will be faced with the tough decision of taking the funds for it out of the inheritances you left for your heirs.
Another consideration is how your attorney's fees will be paid. The executor will have to rely on the help of an attorney to get your estate through probate and other legal situations.
Failing to Document Why Someone Is Excluded
You already know that it is important to state the names of your heirs and what you intend to leave them in your will. It might seem that simply not naming someone that you do not want to leave an inheritance to is enough to ensure they are not awarded anything, but it might not be.
When you intentionally leave someone out of your will, you need to state that it was done intentionally. By doing this, you can potentially avoid a situation in which someone contests a will based on the belief that you did not intentionally leave him or her out. You can go a step further and include a letter that states why the person is left out of your will.
Work with your attorney, someone from a place like the Legal Action Workshop, to prevent other mistakes that could lead to your will being contested in probate court.