Sometimes wills are created and need to be amended later. You may start off leaving equal amounts to each child, but later become estranged from one of your children. You may realize as you grow older, one of your children is financially well-off while another is struggling and you want to make sure he or she is taken care of. An experienced Tennessee asset protection attorney can help properly write your will to reflect your wishes. In it, you can explicitly state who is excluded and why.
Although you may think leaving a person out of your will excludes them, the truth is that will could be open for a challenge. Anyone excluded, especially children, could argue the parent wasn’t of sound mind when drafting the will or that he or she was convinced by another beneficiary to exclude them. This is where an experienced Tennessee asset protection attorney can help. an experienced Tennessee asset protection attorney can draft a document that stands up to scrutiny, preventing costly delays.
It is usually better to specifically name the child in the will, stating why they are not included. This helps clarifies the intent and leaves no room for ambiguity. This also will save your estate from getting eaten up in costly legal battles over who gets what.
Asset protection is crucial and working with an experienced Tennessee asset protection attorney will help you make sure your wishes are honored even after your death.
At Burkhalter & Burkhalter, we can help you develop an asset protection strategy based on your specific needs. We can ensure that you and your assets are protected and that they will be divided as you see fit upon your death. For a free consultation, contact Burkhalter & Burklahter right away.