Buckner continues its educational series on wills, trusts and other estate planning issues with an explanation on the myth of disinheriting a person by leaving him or her one dollar in a will:
A common piece of advice regarding the best way to disinherit a person, especially a child, is to leave him or her a dollar in a will. For example, a will relying on this tip would include a provision: “I leave a dollar to my child, John”. However, the reality in most states is that leaving a dollar in a will is probably not the best way, and maybe the worst method, to disinherit a person from a will. Further, the provision is not necessary. In Florida (and most states), it is “not necessary and can actually cause considerable added expense to the estate”. Instead, it “is better simply to state in the will that no provision is being made for that child.” Some legal experts advise to include a few lines in the will that name the individuals intentionally left out of the will and the reasons why. The inclusion of rationale may be helpful later if the will is contested in court (after the testator’s death) by people who were disinherited since the statements can be used to discredit any arguments that the disinheritance is a mistake. However, as always, seek an attorney to provide specific advice on disinheriting persons in a will.
Every week Buckner offers the following deals:
- Wills on Wednesdays: Clients who retain Buckner and pay the initial consultation fee or installment payment on Wednesdays receive a 10% discount on a will package.
- Trusts on Tuesdays: Clients who retain Buckner and pay the initial consultation fee or installment payment on Tuesdays receive a 10% discount on a trust package.
To discuss your estate planning needs, call (+1-954-941-1844) or email (firstname.lastname@example.org) attorney Michael Buckner for a consultation.
Source: “Do You Have a Will?”, The Florida Bar (March 2014), available at: http://www.floridabar.org/tfb/TFBConsum.nsf/48e76203493b82ad852567090070c9b9/a0091ab18d4875d085256b2f006c5b75?.