If You Are Going To Disinherit Your Children, Do It The Right Way

If you disinherit your children, you are not the first person who has ever done so. There are right ways and wrong ways to disinherit your children. First, make a firm decision about whether you want your children to inherit from your estate. If the answer is “no,” then make your will unambiguous about it. If you don’t write a will, your children may inherit through the laws of intestate succession; they are first in line for the inheritance if you are unmarried at the end of your life. If you leave your estate to other beneficiaries and simply do not mention your children in your will, it is possible, although not certain, that they will present a legal challenge to your will, and the probate court will rule in their favor. Mention your children by name in your will, and specify that they will inherit nothing. Do not do this in anger, though. People write their children out of their will for various reasons, and which course of action you take depends on why you are doing it. If you have decided to disinherit your children or are undecided about whether to leave them an inheritance, contact an Orlando estate planning lawyer.

If You Are Sure You and Your Children Will Not Reconcile

If you have a troubled relationship with your children, and this is the only reason you are considering disinheriting them, you should probably leave them an inheritance. Lots of people on their deathbeds regret not reconciling with estranged family members, but hardly anyone regrets reconciling with them. Leaving your estranged children an inheritance can end the relationship on good terms.

It makes sense, however, to disinherit your children if the relationship ended decades ago and is unlikely to resume. For example, it makes sense to disinherit your children if, when they were minors, you signed away your parental rights, and their stepfather adopted the children, and you have not seen them since then.

If You Are Sure That Your Children Do Not Need or Want the Money

It also makes sense to disinherit your children if they have told you they do not want or need an inheritance. Ask them what they want you to do with the money they would inherit from you; in other words, let them nominate a successor beneficiary, but remember that the final decision about beneficiaries of your will belongs to you.

There Are Other Ways to Leave Money for Your Children Besides Your Will

If your children cannot handle an inheritance because of physical or mental health conditions or a troubled financial history, your will is not the best way to provide for them. Instead, establish a trust and give instructions to the trustee about how to spend the money for your children’s benefit.

Contact Gierach and Gierach About Disinheriting Family Members for the Right Reasons

An estate planning lawyer can help you build an estate plan that reflects your family’s reality.  Contact Gierach and Gierach, P.A. in Orlando, Florida to discuss your case.

Source:

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