When you hear ‘estate planning,’ you may think that it is only for older Americans to pass their assets onto their families when they die. However, estate planning has many purposes: protecting families, saving on taxes, securing quality healthcare, and more. Learn about effective estate planning in this article, and if you have questions about estate planning, our top Illinois estate planning attorneys can assist you.
Even with solid estate planning, someone may contest your estate. This can happen if a family member is not happy with the terms of the will, and there also may be some objections to a will on specific legal grounds. Some of these grounds are:
The next steps depend on the circumstances if the will is successfully contested. If you had a will written earlier, the terms of that will would be in effect. The state’s intestate succession laws would apply if there is not another will.
To ensure that your desires are met, there are several effective ways to reduce the chances of a contested estate:
A well-constructed will is essential to ensure it is enforceable after you die. Working with a top estate planning attorney in Illinois can ensure the will is comprehensive and ironclad.
A no-contest clause means that anyone who contests it would forfeit some or all of their share. But this is usually only effective if someone with a stake in your will probably would not contest the will successfully anyway.
It also helps to communicate with family and heirs about your will. Ensuring everyone understands your wishes and thoughts in your estate plan can avoid contention later. If your family knows that you created an estate plan and will, there is less chance that a family member will successfully contest it.
It is helpful to review your estate plan every one or two years and update it if there was a significant life change. Doing so reduces the chances that someone could invalidate it.
Working with a skilled, experienced estate planning attorney is essential to reduce the chances of a contested will, especially if you have a large estate. If you need assistance with estate planning, our top Illinois estate planning attorneys at Orlowsky & Wilson, Ltd., can help, so please call (847) 325-5559.