When thinking through their estate plan and how they want their assets(money and property) managed after they pass away, most parents wish to treat their children equally, often out of a sense of fairness. However, sometimes being fair or doing what is right by your children may mean giving unequal inheritances.
Category: Disinherit
Want to Disinherit Someone in Madison, WI? This Is What You Need to Know
Disinheritance—the intentional exclusion of a family member, usually a child or spouse, from receiving part of your estate after your death—is more common than you might think. It is also easier than you might think to disinherit a loved one, with a couple of notable exceptions. However, it is not as simple...
Surprise! You Cannot Easily Disinherit Your Spouse in Madison, Wisconsin
Believe it or not, it is not easy to disinherit your spouse in the United States. In many states and the District of Columbia, you cannot intentionally disinherit your spouse unless your spouse agrees to receive nothing from your estate in a prenuptial, postnuptial, or other marital agreement. However, the same is not true...
Can I Leave My Spouse Out of My Estate Plan in Madison, WI?
The relationship between spouses is special in all contexts, not the least of which is the estate planning context. In many instances, you can exclude people from your estate plan, including your parents, siblings, and adult children. But there are special protections built into the law that may help protect a spouse...
Estate Planning Is About Knowing Your Priorities
Thinking about the world and how our loved ones will fare after we pass away can be very difficult. Although we all know that we will pass away at some point, this is not something most people like to dwell on. However, by proactively planning and prioritizing your goals, you can craft...
Don’t Let Your Estate Plan Go Up in Smoke
Fewer people are creating estate plans today than in years past. Research shows that, in 2024, less than one-third of Americans report having a will.[1]
Every adult—whether they are 19 or 99—should have a will at a minimum. Many people can also benefit from estate planning documents...
Limited Impact of Estrangement on Estate Planning
Unfortunately, rifts sometimes arise between family members that are much more serious than just temporary squabbles. The result may be estrangement, defined as “the state of being alienated or separated in feeling or affection; a state of hostility or unfriendliness” or “the state of being separated or removed.”[1] Estrangement does...
Why the Knives May Come Out at Death
The box office success of the 2019 murder mystery Knives Out led to franchise status, with Glass Onion, the first sequel, released in late 2022. The original Knives Out featured whodunit intrigue surrounding the murder of a wealthy author and surprise changes to his will.
While Knives Out endeared...
Disinheritance
Inheritance laws involve legal rights to property after a death and such laws differ from state-to-state. Heirs usually consist of close family members and exclude estranged relatives. Depending on the wording of a will, an individual can be intentionally, or even unintentionally, disinherited.
In most cases, spouses may not be legally disinherited. Certain...
Don’t Disinherit with a Dollar
There are a lot of myths and misconceptions surrounding estate planning. Many people think that a last will and testament is the only estate planning document you really need. This of course is false. Others assume that you only need to have an estate plan in place if you’re a millionaire. This...