Properly preparing your wills well in advance will give you total peace of mind. You can rest assured that your properties will be distributed to the designated beneficiaries promptly. To avoid will contest, below are some tips from experts in wills and estate planning from Sydney’s Inner West.
Proactively planning your will
Your beneficiaries’ best interest is your priority. That’s why, you should take the time to carefully plan your wills well in advance. Doing so later on in life could give some people an excuse to question your ability about making important decisions. Also, you could forget key things that are crucial to your will if you put off preparing it. If you are foreseeing some potential problems in asset distribution, address them now while you are still fully capable of taking care of it.
Include a No Contest Clause
In terror-em, or the no contest clause, is a clause that is included in wills and estate planning documents that protects your estate from people who may challenge it or file a lawsuit against those for which your estate is to be distributed. However, some states may provide limited power to a no contest clause. Consult with a lawyer to learn more about its validity in your area.
Be discreet in preparing your wills
Preparing your will shouldn’t be a secret undertaking. But you must be discreet about it. Only disclose important details of your wills to your lawyer or to a family member whom you truly trust. Talk about some details of the will with your loved ones and state the reasons why some details are included.
Have a revocable living trust
One of the best ways to discourage will contests is to have a revocable living trust. It is an excellent way to keep your wills private and safe from people who may have ill intentions. By having a revocable living trust, it is only you who can have access to your will.
Keep on reviewing your will
Go over your will again and again until you’re satisfied that all crucial details have been included in it. By constantly reviewing it, you can implement some amendments as your assets undergo some changes while you are still living.
For further information about creating wills and estate planning, visit CM Lawyers of Sydney’s Inner West or call 02 9568 6266 today.