Did you know that one of the key concerns individuals often have when creating their Alabama estate planning and last will and testament is how to avoid a will contest after their death? Why? Because a contested will can lead to prolonged court battles, strained family relationships, and can significantly deplete the estate's assets. So, to avoid these risks, we have seven estate planning steps you can take now to avoid a will contest in the future below.
1. We highly recommend that you work with an experienced Alabama estate planning attorney. It is crucial to work with an experienced Alabama estate planning attorney. A skilled lawyer can help ensure that your Alabama estate plan is legally sound, adheres to state laws, and clearly articulates your wishes. They can also provide advice on strategies to minimize the chances of a contest, including being sure all legal formalities are correctly followed. In addition, this is the time for you to share your specific concerns about potential contests with your attorney and ask for tailored advice to mitigate those risks.
2. You might want to think about speaking with your loved ones. Talk to your Alabama estate planning attorney first, but know that transparency can often prevent misunderstandings and disputes. You may want to discuss your estate plan as well as your goals with your loved ones. This does not mean you need to let everyone know every detail, but explaining your decisions can help manage expectations and reduce the likelihood of surprises that could lead to future contests.
3. It is absolutely imperative that you choose the right decision makers. Selecting trustworthy and competent agents, personal representatives, and trustees is essential. These individuals will be responsible for working with an attorney to administer your estate and ensure your wishes are carried out. Their ability to handle the role effectively and communicate with beneficiaries can greatly influence the probability of a dispute. As a point of consideration, you may want to discuss this important role with them to ensure they are willing to serve in this capacity before naming them in your estate plan.
4. Start now and plan out what you want clearly. Without question, the clearer your Alabama estate plan, the less room there is for interpretation or contention. Work with your experienced Alabama estate planning attorney to be explicit about your wishes, including the distribution of specific assets. Your attorney may even recommend you write a letter that could accompany your estate plan for specific family members.
5. Talk to your attorney and consider using tools like trusts to avoid probate. One of the complications of using only a last will and testament in your Alabama estate plan is that your estate will need to go through the probate process. The probate process is public and could open your estate up to challenges. By contrast, when you use a trust agreement and fund your assets into it, you can eliminate the need for probate and provide a more structured distribution through trust administration.
6. Make it a goal to regularly update your Alabama estate plan. Be aware that life changes such as marriage, divorce, the birth of children, the sale of a business, or acquiring significant assets necessitate updates to your Alabama estate plan. When you regularly review and update your plan to reflect these changes, you can be confident that it accurately represents your current wishes and circumstances, reducing the potential for disputes.
7. You may want to consider the emotional impact of your plan. You might want to be mindful of the emotional aspect of your death, estate plan, and future inheritance. If there are unequal distributions or perceived slights this can lead to hurt feelings and disputes within your family. Of course you cannot control how others feel and you do not have to consider this in your planning, but being as fair and thoughtful as possible in your approach can minimize negative emotions that might fuel a contest.
Finally, while it is impossible to guarantee that your Alabama estate plan will not be contested, taking these steps can significantly reduce the risk. By discussing your specific concerns with your experienced Alabama estate planning attorney and seeking their advice, you can develop a comprehensive strategy that addresses potential challenges and works towards ensuring your final wishes are respected and your loved ones are cared for as intended.
We know this article raises more questions than it answers. At the end of the day, legal planning is not just for you. Instead, it is for the ones you love most. If we can answer any questions for you on putting this estate planning in place, please do not hesitate to let us know. For more information, please reach out to our office and schedule a time to meet.