Although it’s an extremely painful decision, some parents believe they have no choice but to disinherit one of their children. If a parent wants to make that choice, they should know the right way to go about it. Read further to learn about the process of disinheriting a child with the help of an Estate Planning Lawyer in Gig Harbor Wa.
Consider Setting up a Skip Bequest
If an adult child has his or her own children, think of leaving his or her share in a guardianship or trust. That way, the grandchildren get the help they may need, and that part of the family isn’t being left out completely.
Use an Incentive Trust
Here, the child’s share is left in a trust that’s designed to encourage positive behavioral changes. For instance, if the goal is to encourage the child to stay free of drugs, the parent may specify a period in which he or she must have clean drug tests. Many parents also require their children to maintain a steady job and provide proof of employment to the trustee.
Document the Decision
If there’s any chance of the child challenging the estate plan based on the parent’s lack of capacity, take action now to help the other children defend against those challenges. Consider making a video or audio recording that discusses the reasons for the disinheritance, and get a physician’s statement affirming the parent’s ability to make his or her own decision.
Don’t Forget to Name Them in the Trust or Will
If a parent stays with their decision to disinherit a child, they may want to leave that person’s name out of the estate plan. However, that would be a significant mistake. If the child’s name is omitted, the law may assume a memory lapse on the parent’s part, and the judge may insert their name back into the plan. To prevent this, name the child in the plan and state that they’re left nothing.
It’s never an easy decision to disinherit a child, but in some cases, it’s necessary. For help with disinheritance, wills, trusts, and other matters call today to speak to an Estate Planning Lawyer in Gig Harbor Wa.