Sometimes, an estate plan needs to change. In today’s world, relationships become fractured. Families may become estranged. No matter the reason, sometimes, parents seek to disinherit a child. Now, this is a decision that no one should take lightly. It can cause a lot of ill feelings and likewise lead to will contests if you are not careful.
Forbes explains the process of disinheriting a family member.
Will a will cause problems?
If you have a will instead of a living trust, the act of disinheriting one of your beneficiaries may lead to a contested will. If someone in your family feels as though it is a slight against them or if you made a mistake, he or she may contest it. A living trust is more difficult to contest. In addition, trusts are not public so your family member does not have to find out how much he or she lost in the inheritance.
Can you partially disinherit a child?
You do not have to completely disinherit a child. Say that you want to leave one less than the others. Some parents may do this if they feel as though their child is irresponsible with money or if the inheritance will somehow interfere with his or her success. You can partially disinherit one child. Now, if your child finds out that he or she received less, then he or she may want to contest the will. This is why it is crucial that if you plan to even partially disinherit your child that you have a strong no contest clause.