A will can be beneficial to various estates, both big and small. In short, it provides a blueprint for distribution of the estate and helps to reduce or eliminate confusion.
If you are looking to develop or revise a will for your estate plan, consider a few important aspects. In fact, some elements can help to fortify your wishes through your will.
Florida has a few laws regarding wills that all will holders must abide by. One of the primary requirements is that the will holder must be of sound mind. Unfortunately, many beneficiaries looking to contest a will try to use this argument for their claim. To avoid this, a physician who can attest that you are of sound mind at the time of creating the will can evaluate you. You may also choose to document the signing of the will on video or have at least two un-related parties attest to your mental fortitude at the time of signing.
You may put some provisions in place in your will to discourage beneficiaries from contesting it. The challenger provision is one of those provisions. It causes a challenger to lose any stake in the estate should the court decide not to grant the contestation.
Many times, a will contest is in regards to parties not feeling they received what they should from the estate. Therefore, it may be possible to get ahead of this by reviewing your will with your immediate family and any other beneficiaries or any other responsible party, such as a power of attorney. This can allow you to address any discontent or concerns beforehand, so it does not sow discord once you are gone.
Incorporating these aspects in your will may be beneficial, but they may not incorporate everything, depending upon the extent of your estate. Take some time to consider your estate and the additional aspects of a will that best benefit your situation.