Four Ways to Minimize the Chance of a Will or Trust Contest

Disputes over terms of your will or trust can derail your final wishes, quickly drain your financial legacy, and tear apart your loved ones. But if you plan ahead of time, you can spare your family a potentially irreparable conflict.

2. Inform family members of your estate plan. 

Secrecy breeds suspicion when it comes to estate planning. Although you do not need to share all the specific details of your estate plan with family members, you should let them know that you have taken the necessary steps to address your final wishes. Additionally, you should inform them who they should contact if you become unable to manage your affairs or pass away. 

If you want your family to be aware of important aspects of your estate plan, you may consider holding a family meeting with your estate planning attorney. This transparency can potentially reduce misunderstandings and disputes and offer a space for your loved ones to ask questions. Anticipating potential concerns is an opportunity to establish clarity, alignment, and a smoother transition for the future. 

3. Use discretionary trusts for high-risk beneficiaries. 

If you’re concerned about leaving an inheritance to a loved one who may misuse it or who may face outside risks such as creditors or divorce, consider setting up a discretionary trust. Appointing a neutral third party trustee such as a bank or trust company ensures that the beneficiary will receive their inheritance according to the terms and conditions you have dictated, while keeping the money out of the hands of unintended parties, such as creditors or an ex-spouse. You can also decide who will inherit the remaining balance of the trust in the event the beneficiary dies before the funds are fully distributed.

If you want fewer instructions or restrictions on your loved one’s inheritance, you can place it in a trust and leave instructions for distributions to be made at specific ages or upon attaining certain milestones. You can decide when and how they receive their inheritance. There is no requirement that your beneficiary receive their inheritance outright.

4. Keep your plan current to minimize the chance of a will or trust contest.

Your estate plan should evolve with your life. As your family, assets, or wishes change, so should your plan. Regularly reviewing and updating your documents signals that your decisions are intentional and up to date, which can reduce the likelihood of legal challenges.

By implementing these four strategies, you can create a robust estate plan that’s less likely to be contested, and more likely to be honored as you intended. If you have concerns about your loved ones contesting your will or trust, reach out to us today to discuss how we can help protect your wishes and your legacy.