Thursday, February 03, 2011 NEET Tips
NEET Tips answers questions posed online to the NEET website
What’s the best way to disinherit someone?
To disinherit someone who would otherwise likely receive a portion of your estate through the Vermont intestacy laws, you need to have a written will or trust. Absent a written document, the intestacy laws will control.
When drafting a will or trust, most attorneys suggest naming the person who you wish to disinherit, but stating that although they are a child (or other relationship) of yours, you wish to leave them nothing. Many attorneys advise against providing reasons for your actions, as the disinherited person could contest the will later on the grounds that those reasons no longer applied. Some attorneys recommend leaving the person a relatively small amount and including a “no contest” provision. By doing this, the disinherited person has to weigh receiving the small amount against contesting the will and potentially receiving nothing if they lose in court. The amount is intended to be an incentive against contesting the will.
Keep in mind, surviving spouses cannot be disinherited. A surviving spouse may waive the will and exercise their “elective share” to take one-half of their deceased spouse’s estate. Your children and others do not have similar rights. |