Estate Planning Strategies To Prevent Future Probate Litigation

When you pass away, you do not want your family’s last memories of you to be fighting over your estate in probate court. Sadly, it is not uncommon for people to find themselves in contested probate proceedings after they lose a loved one. Fortunately, you can stop these disputes from arising by using some key estate planning strategies. Below, our Daytona Beach probate lawyer explains what these are.

Plan Early, When You are Still Healthy 

One of the most common reasons wills are challenged in Florida is due to a ‘lack of capacity’. This means that someone with an interest in the estate is claiming that the testator, or person who drafted the will, was not of sound mind when creating the document. If you can plan early, while you are still healthy, it makes it much harder for anyone to claim that you lacked the capacity to draft important estate planning documents.

Draft Advanced Directives 

Many people think that their estate plan only comes into effect after they pass away. However, comprehensive estate plans will also include a durable power of attorney, a healthcare surrogate designation, and potentially a living will. These important documents take effect when you are unable to make healthcare or financial decisions for yourself. Again, it is important to draft these documents while you are still healthy.

Reduce Your Probate Estate 

Not all assets have to go through probate. By using a revocable living trust, jointly held assets, and beneficiary designations, you can help your family avoid the probate process. This reduces the likelihood of contests and challenges to your plan, and can also protect your property from creditors.

Tell Your Beneficiaries of Your Estate Planning Strategy 

Probate litigation is often necessary when the heirs of a deceased do not have advance notice of the language within a trust or will. If you omit a child or spouse, they are more likely to ask the court to set the will aside. For this reason, you should tell your beneficiaries about your wishes, particularly if you are disinheriting someone in your plan.

Update Your Plan Regularly 

After completing your estate plan, you should review it every few years to ensure that it is up to date and still reflects your wishes. Aside from reviewing it every few years, you will also likely have to update it after any major event in your family such as a birth, death, marriage, or divorce. This will ensure there are no questions regarding your wishes and your estate plan is not challenged in probate court.

Work with Our Probate Lawyer in Daytona Beach 

While you may be very clear about your final wishes, it is still important to work with a Daytona Beach probate lawyer. At Bundza & Rodriguez, our experienced attorney can help ensure your wishes are honored and that the process is as easy as possible for your loved ones. Call us now at 386-252-5170 or fill out our online form to schedule a consultation and to learn more about the strategies that can help you and your family.

Sources:

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0736/0736.html

leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html