2 Tips For Making Your Estate Plan Stronger
Getting a good estate plan is vital. Many people understand how important it is to meet with an attorney and get their affairs in order; however, even those who prepare the plan can still have family members contest the estate plan. Contesting an estate plan is expensive and emotionally hard on the family; additionally, you want to ensure that your wishes are honored after you pass away. This is why you should do everything you can to protect your plan from being contested. Here are a couple tips that could prevent your plan from being contested.
1. Disclose The Contents of The Plan To Your Family Before You Die
One of the worst things you can do is have surprises in your estate plan. Instead, it is better if your family understands what the plan is going to say and so when the time comes they know what to expect. This doesn't mean that everyone is going to be pleased with the contents of the will and the division of assets. But, if you discuss the estate plan while you are in sound mind and able communicate your wishes, your family will have a harder time proving that this isn't want you wanted.
In addition, when you explain the plan before you pass away you give your family time to ask questions and discuss why you did what you did. This will make it easier on them so that they don't have unanswered questions after your death.
2. Do It While You Are Young and Healthy
Another major mistake people make is making changes to their plan when they are in their final days. One of the important factors that have to present to have an estate plan upheld is that you have to prove that the person was in sound mind and knew what they were doing. People who are on their deathbed generally have health problems that could cloud their judgment, or they make rash decisions that they haven't thought through. Your family could argue that you didn't know what you were doing when you made these changes. This is why it is better to do it when there is no question about your mental state and health.
Naturally, as you age you will need to make changes to the plan as your situation and assets change. But by getting it done while you are young and healthy, your family won't have to question if you were of a sound mind when you did it.
If you do choose to make changes as your health is declining, make sure that you have witnesses present who have no interest in the estate plan. These witnesses will be able to testify that you knew what you were doing in the case that the estate plan is contested.
By doing these two things you can help ensure that your estate plan isn't contested after you pass away.