Creating an estate plan is a smart and effective way to plan for a time when you will no longer be present. When you create an estate plan, you may think your situation won’t change.
However, life is unpredictable, and as a result, at some point, it may be time to disinherit an heir. Knowing your legal rights and the best way to do this is recommended if this time comes.
The reason people may want to disinherit someone can vary. It may be because you are concerned about an active addiction they are dealing with or because they have shown poor judgment in the past. Maybe you simply don’t get along – or maybe you believe they already have enough wealth and you want your money to go where it’s needed more.
How to disinherit someone
If you want to disinherit someone, you have a few options. You can leave the person out of the will. If you don’t add someone to your will, they essentially won’t receive any of your assets. However, unlike a child, New York law protects spouses from being disinherited.
Another option is to list the person you want to disinherit in your will and why. If you use this method, be sure to be as detailed as possible about why you exclude them from the will.
Remember, if you disinherit someone, there is a possibility of conflict among your family and of someone contesting your will after you pass away. If this happens, it will prolong the time everyone must wait to disburse their assets.
Keep your will legal and binding
When it comes to disinheriting someone, it is a good idea to make sure you seek professional assistance. This is going to ensure that it is done as legally as possible. It will also help to reduce the likelihood of having the will contested after you die.