Making decisions regarding your estate plan requires you to carefully consider your assets and Beneficiaries. However, it’s also important to note that the decisions you make are not permanent, so you can make changes as necessary. One thing you may need to consider is Disinheriting someone. If this is the case, understanding how to do so is critical. The following blog explores what you should know about these matters and why connecting with a Medina, Ohio estate planning lawyer is in your best interest if you want to Disinherit someone.
Why Might I Need to Disinherit Someone?
Making the decision to Disinherit an individual from your estate can be a difficult matter for some. Typically, the most common reason is due to a falling out or estrangement. If you disagree with your child’s decision to marry a specific person, for example, it can cause a rift in which you no longer speak. As such, you may choose not to leave them anything in your Will.
However, arguments are not the only reason someone may choose to Disinherit someone. Another common reason is because their loved one suffers from issues like gambling or substance abuse addiction. By leaving this person a large sum of money, it may only serve to further enable their behavior. As such, some make the difficult choice to write someone out of their Will.
You may also find that Disinheriting someone can help you provide more for a loved one with greater needs. For example, if one of your children is well off and the other is struggling, you may choose to allocate a greater portion of the estate to the child who needs help. This could mean Disinheriting your other child.
What Are the Steps to Write Someone Out of a Will?
First and foremost, it’s important to understand that Ohio, unlike most states, does allow you to Disinherit a spouse. However, you should know that, even if you write them out of your Will, they are still entitled to a considerable portion of assets, with exceptions. For example, your spouse may be entitled to half the estate if you do not have children from another marriage.
If you want to Disinherit someone, understanding how to do so is critical. Unfortunately, there is a common misconception that leaving a symbolic $1 to someone is the best way to go about these matters. However, this can do more harm than good. When you leave assets to someone, even only one dollar, they are considered a beneficiary of your estate and can then challenge the Will.
As such, if you wish to write someone out of your Will, the best way to do so is to name them and state that you are intentionally not leaving any assets to them. Though you may want to leave an explication, doing so can open the door for the individual to challenge the reason in court. If they can prove this reason is untrue, they may also be able to argue that had you known the statement was false, you would have left them a portion of the estate.
This process can be incredibly complicated, which is why it’s in your best interest to enlist the assistance of an experienced attorney from Krause Law. We understand that these matters can be complex, which is why we will guide you through these matters to ensure your wishes are met. Contact us today to learn how we can fight for you.
