In a perfect world, everyone would get along and there would be no arguments between family members or loved ones. Because we do not live in a perfect world, there are a number of issues and challenges in relationships that arise when estate plans are involved.
Due to these disputes, it often becomes necessary for a parent or family member to write a loved one out of his or her will. An experienced estate planning lawyer has helped a number of people create their own unique estate plans, which can include writing loved ones out of an inheritance.
While there are a number of reasons why you might decide to write someone out of your will, the following will discuss some of the most common reasons why you might employ this estate planning strategy.
The Nature of the Relationship Has Changed
One of the most common reasons that people choose to write someone out of his or her will is because the relationship with that person has changed. Relationships are often either strengthened or weakened over time. No matter how or why a relationship has changed, Oklahoma probate laws often allow an individual to write someone out of a will.
The Person Has a Disability or Addiction
Some people decide to write an individual out of their will because that person is facing an addiction or disability. In cases of disability, a person is likely receiving benefits from one or several government agencies. In that case, when a person receives a portion of an estate, it is likely that he or she would lose those government benefits. As a result, it sometimes becomes necessary to write disabled individuals out of a will.
In many situations, the person will decide to create a special needs trust to transfer assets to a disabled individual instead of using a will.
Other times, if a child or loved has an addiction or substance abuse issue and will likely use any assets to further fuel this addiction, it might also be necessary to write that person out of an estate plan.
Some people decide to write others out of their estate plans because they simply do not need the money, property, or assets. In these situations, parents sometimes decide to leave a larger amount of assets to children who are not doing as well financially.
Rather than disinheriting children entirely from an estate, however, it is often a better idea for parents to provide meaningful gifts to their children in place of funds.
Speak with an Experienced Estate Planning Lawyer Today
In Oklahoma, there are a number of reasons why you might decide to ultimately write someone out of your will. Experienced attorney Jim A. Lyon has helped a number of people perform this type of estate planning and understands the common obstacles that arise.
If you have questions about writing someone out of a will or any other aspect of the estate planning process, do not hesitate to contact attorney Jim A Lyon today to schedule a free case evaluation.