A Major Problem with Many Wills: Insufficient Scenarios Contemplated
Neufeld Legal P.C. can be reached by telephone at 403-400-4092 or email Chris@NeufeldLegal.com
One of the more consequential problems that I find with far too many wills that I have personally reviewed is that there were an insufficient number of scenarios contemplated and tested in the preparation and drafting of the last will & testament. As such, if certain plausible fact patterns were to transpire, the will as originally drafted might be (i) incapable of providing a viable outcome, (ii) the resulting outcome might be contrary to the individual's true preferences or (iii) the situation might necessitate the intervention of the Surrogate Cost and a costly court litigation process.
Fortunately, for many of these individuals, when they were looking to have their existing will changed or modified for other purposes, which is strongly suggested for a number of other reasons that we have discussed on another webpage, I have been capable of identifying some of these previously overlooked problems (whether the will was from a do-it-yourself kit, an online will service or another law firm, which is too frequently drafted by legal assistants or inexperienced junior attorneys). We are thus capable of addressing these problems, in conjunction with the other changes that were being sought; nevertheless, it should not only be when known changes are being made to your will that you look to have it reviewed, as it is to your benefit to have your will (and other estate planning documents) regularly reviewed, even when you might not perceive changes being required, although an experienced lawyer might identify those deficiencies.
A. Your Will is Incapable of Providing a Viable Outcome: Although the initial scenarios might be relatively clear cut, such as passing the entirety of your estate to your spouse on your death, and if your spouse has pre-deceased you, distributing it equitably to each of your children, given that each of them has survived you; the situation can be substantially more complex and prone to issues where people do not survive you (who you had presumed would survive you) and/or your estate distribution structure is not equitable, as well as for other reasons.
B. Your Will's Resulting Outcome is Contrary to your True Preferences: Building on the previously discussed issue, even though there might be an outcome that emerges under a complex fact pattern, the resulting outcome, once properly explained, might not be consistent with your true preferences. Instead, when the results of the particular pattern are disclosed, there have been far too many times that the individual indicated that this was not their true intention (whether due to a prior misunderstanding or an inadequate prior explanation), such that the wording in the will needs to be appropriately re-drafted to correctly reflect one's true intention.
C. Your Will Might Necessitate the Intervention of the Surrogate Court: This is especially common where the language in the will is subject to more than one legitimate interpretation, such that when that person is dead and thus incapable of identifying the appropriate interpretation, the only outcome could well be the Surrogate Court, with the litigation process potentially being quite costly. This is not an inviable situation for the executor of the will or its beneficiaries, especially where many of these issues could have been avoided with an appropriate review of the will and estate planning documents while the testator was still alive.
Many of these issues with your existing will, which can be highly problematic and/or costly, can be avoided by undertaking a regular review of your will (and other estate planning documents), with the legal cost for a lawyer to undertake such a review being relatively minor, especially when you consider that there are all too often other changes and improvements that could be made to your will, which would also prove highly beneficial.
Contact our law firm today to learn how our legal team can help you plan for the future (through the preparation and drafting of wills, trusts and other estate planning documents) or deal with the legal demands associated with the passing of a loved one. Contact our law firm at 403-400-4092 or via email at Chris@NeufeldLegal.com to schedule a confidential initial consultation.
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A Major Problem with Many Wills: Insufficient Scenarios Contemplated - One of the more consequential problems that I find with far too many wills is that there were an insufficient number of scenarios contemplated and tested in the preparation and drafting of the last will & testament. As such, if certain plausible fact patterns were to transpire, the will might be incapable of providing a viable outcome, the resulting outcome might be contrary to the individual's preferences or the situation might necessitate the intervention of the Surrogate Cost and a costly court litigation process. Read more. |
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