Estate planning is a major move to make, as you get the opportunity to distribute your estate according to your wishes. When writing a will, you will include your loved ones as beneficiaries and the assets they will inherit. However, one may start making moves that may lead you to question your decision.
Can you remove them from your will? Absolutely. You can include – or exclude – anybody you like from your will. Here are three common reasons people choose to disinherit someone:
Estrangement
You may have an adult loved one with whom you currently lack a relationship. Perhaps you haven’t been in contact for so long that you no longer view them as your heir. If so, that’s definitely a valid reason to take this step.
Adequate money
A beneficiary may become successful as time goes by. If you want, you may remove them from your list of heirs and give the assets they would have inherited to someone who needs them more. For example, if you have one child with developmental disabilities who is on Supplemental Security Income (SSI), you may wish to leave them your estate — instead of splitting it with their sibling who is successful and self-sufficient.
Distrust
The chances are you want your heirs to continue the family legacy. This may mean investing, providing comfortable lives for their families and so on. It can be disappointing to think someone may misuse or mismanage their inheritance. Thus, if you don’t trust an heir, maybe they have a gambling addiction or have made dishonest moves, you may decide to remove them from your will — or put their inheritance in some kind of trust that they cannot directly control
Disinheriting someone is not an easy subject. The disinherited party may contest the will. Thus, it’s vital to be informed about all your legal options as you revise your estate plans.