Does Your Estate Plan Reflect The Addition Of Your New Baby?

If you are preparing to become a parent for the first time, you are probably already dealing with an overwhelming and stressful experience because there are many things you have to get done. This also means there are some things you will have to put on hold while you prepare for the baby’s arrival.

Unfortunately, this means you will not have the time or patience to deal with things that should not be ignored. One of the important things you should not ignore is estate planning. There are some common estate planning mistakes that many new parents make, but you still have time to avoid these mistakes.

Not Making Changes To The Will

When the baby finally arrives, you should update your will as soon as possible. We never know when accidents can happen to us, and this is why it is important to add the new addition to your family in your will. If something was to happen to you, and your last will has not been updated to reflect your baby’s birth, your child may have to jump through hoops just to receive his or her inheritance. You can save your family plenty of headaches and confusion by updating your will after you give birth to the new baby.

Forgetting To Name A Person As the Legal Guardian

We do not want to think about leaving this world while our children are still at a young age. Unfortunately, this happens to many families. After you have a baby, you should always be prepared to ask a person you trust to be the legal guardian if something happens to you. The judge will have to give a confirmation of the person you choose, but your request for the legal guardian will usually be granted. We understand you do not want to hurt any of your friends’ or family members’ feelings, but you have to choose the best person you know who will take care of your children the same way you would.

If you are about to become a new parent, then this certainly is an exciting time for you. However, you should never overlook the importance of updating your estate plan to reflect your new family. If you need to update your last will and testament or your estate plan, contact us today for additional information.

What Is a Will Contest?

Estate litigation is a legal process that is performed when a dispute exists after a person dies. The total of that person’s assets, called their estate, is entered into probate, where the estate is collected and valued. Once the estate has entered into probate, anyone who has a claim against the estate—either that the deceased owed them money or that they disagree with something about the way the estate is managed—then they can take that claim to court. A will contest is when a claim is made against the deceased’s will, either to prevent it from entering into probate in the first place or to remove it from probate once it has already entered.

One of the most common reasons for a will contest is a lack of capacity. If someone thinks that the deceased did not have the mental capacity to create an accurate and aware last will and testament, they will contest the will in court. The other primary reason for a will contest is the suspicion of undue influence. If there is suspicion that the deceased was manipulated or misled during the production of the will, a claim of undue influence can be made, which would also lead to arguing the case in court.

Once a will contest has been made, court proceedings ensue similarly to usual, with lawyers arguing in favor of upholding the will and in favor of eschewing the will. If the will contest is successful, the will is ruled null and void.  If the contest is unsuccessful the will stands. Multiple contests can be made against the same will if there are multiple valid claims.

Contact us for more information about estate litigation and planning.