Accidental Disinheritance, Part 6

6. Disinheritance by creating wills that mirror each other.

There are times when married individuals have their wills prepared, the
lawyer will draft one. Then, that lawyer will create another one that
looks exactly the same as that one, but for the other spouse. It makes a
lot of sense when they both desire the same thing to happen after they’re
gone. But problem can emerge when one partner passes away and the other
does not upgrade their will.

Let take a look at an example: Let’s assume that the spouses have two
children, Jane and Jim. Jane has been a success her whole life, but Jim
has struggled. So, during Jim’s life, his parents have given him loans and
gifts to help him out. In order to even this out, the parents want to give
Jane the first $100,000 and then have the kids split the rest. This will
equal out Jane what Jim got during his life. So, each will is prepared this
way. So, when the first spouse dies, Jane gets $100,000. But when the
second spouse dies, it turns out that the survivor never updated their will
and then Jane received $100,000 again, which left Jim with nothing – the
parents didn’t want this, but got it anyway.

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The post Accidental Disinheritance, Part 6 appeared first on Estate Planning – Wills and Trusts, and Probate Law Firm.

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