Side-effects Of Disinheriting A Relative

 Posted on August 27,2012 in Estate Planning

The Trust Advisor published a story about disinheriting relatives, the reasons behind it, and the effects it may have on the relatives who are left behind by the deceased. The choice of disinheriting a relative in your will may be backed by many different reasons. Maybe the relative is a degenerate gambler, an addict, or maybe they hurt the deceased in some way before he drafted his will.

The story talked about Nigel Ruddy, who was always careful with his money, unlike his son. Ruddy tried to teach his son to use money more wisely, but the son did not really listen. Ruddy married a Persian woman, and the two did not have any problems before Ruddy passed away. Yet, Ruddy left the majority of his property to his son, only leaving his wife with 12,000 dollars and a permission to stay in their house until she dies. The reasons the deceased had for disinheriting someone are not always clear to others.

The story in The Trust Advisor said that executors and estate planners are seeing more of the phenomenon with multiple marriages and affairs. Hollywood has also made the reading of a will into a dramatic situation, especially with wealthy families.

People have a tendency to make bad decisions when they are upset. Estate planning is no exception. Disinheriting a relative might cause a lot of tension between that person and the relatives who were not disinherited. A father upset with his son might ruin the relationships between the son and his siblings if the others get their fair share of the property while he gets nothing.

Your estate planning documents should not be created to achieve a suspenseful reading. Life is not a movie, and the people you leave behind when you pass away will have to continue living their lives, so it is wise to consider your decisions before fueling a lifelong grudge.

When you are drafting your estate planning documents, get a professional to help you. You can make things a lot easier for your loved ones and yourself by taking care of things before it is too late. Get the help these matters require, and contact an experienced Illinois estate planning lawyer today.