04 Dec
Posted by Guest as Family, Money and Finance

We have to be prepared for things like these. Sure, it’s morbid but preparing your will is a must if you are pushing middle age, has some assets and family members. While it’s easy to draft a will and hire a lawyer to execute it, you have to take caution that your beloved family will be willing to cut their heads off for that wood-paneled station wagon that you’ll be dishing out when you go bye-bye.
You can always make things square with everyone by liquidating your assets and have your heirs divide everything among themselves but this can be quite mucky especially if you have a lot of assets like real estate.
One quick way to prevent squabbling over your estate is to include a no-contest clause. Putting a clause that anyone who tries to pick a fight over your property in your death will forfeit his or her inheritance might work especially if the person doesn’t have that strong a legal background.
However, this isn’t all too foolproof (as with any laws, I say). It cannot override what is allowed by state law to be entitled to a person a share. Also, it wouldn’t prevent a challenge from anyone who has been entirely disinherited.
