You may have heard the adjective “ironclad” applied to contracts, and estate planning does in fact involve the execution of legally binding documents.
All interested parties may not always be happy with the contents of these documents, so you have to make sure that you execute an ironclad plan that leaves the doors to estate challenges firmly closed.
While you cannot see into the future you can apply some common sense. When you are drawing up an inheritance list you probably are aware of how your decisions will be received by those who are affected. You may well have reason to believe that one or more individuals could want to challenge your wishes.
In cases such as this you have to be explicit when you are recording your wishes in writing. If you leave any openings or ambiguities they could be exploited by disgruntled parties who feel as though they have not been treated fairly.
Unusual cases that involve choices that are not conventional can require some very strong, clear, and precise verbiage so that there is no room for any potential misunderstandings. Witnesses can be helpful in these cases as well.
The point is to be practical about the way that your decisions will be received by those that you will be leaving behind.
Making sure that there are no successful challenges will often require some finely honed legal expertise. Should you be interested in discussing your unique case with a professional, simply take a moment to arrange for a consultation with a seasoned and savvy Somerset County NJ estate planning lawyer.
- Estate Planning: Understanding the Roles of Executors and Trustees - November 25, 2023
- Understanding the Veterans Pension for Seniors - November 20, 2023
- Ring In the New Year With an Estate Plan Review - November 8, 2023
