Your Last Will and Testament serves as a blueprint for the distribution of your assets after your passing. However, what if someone disputes the legitimacy of your Will through a Will contest? Such legal battles can prove to be both financially and temporally taxing. Furthermore, if the contesting party prevails, your wishes concerning asset allocation may be disregarded. To safeguard your assets and ensure your desires are respected, the Long Island attorneys at Eghrari Wealth Training Firm provide insights into what you can do to help prevent a Will contest in New York.
The Fate of Your Will after You Pass Away
Probate is the legal procedure following an individual’s death, designed to fulfill various functions, including the authentication of a Last Will and Testament submitted on behalf of the deceased. If the Will is authenticated, provisions within the Will dictate the distribution of the decedent’s estate assets. Before authentication occurs, however, any “interested person” can challenge the Will.
Understanding the Mechanics of a Will Contest
Contrary to common misconceptions, a Will cannot be contested merely because a beneficiary is dissatisfied with their inheritance under the Will’s terms. A Will contest must assert and ultimately prove the Will’s invalidity based on specific, narrow grounds, such as lack of testamentary capacity, undue influence, or fraud. When a Will is contested, the probate process effectively halts as the outcome determines the estate’s probate method. The Executor, as designated in the Will by the decedent, must defend the Will submitted for probate. Litigating a Will contest often results in substantial legal fees and other expenses for the estate. Moreover, beneficiaries must wait longer to receive their intended bequests due to the contest. If the contestant prevails, the Will is invalidated, and, unless another valid Will is discovered, the estate assets are distributed following New York intestate laws. If the contestant is unsuccessful, the probate process resumes, and assets are allocated per the Will’s provisions.
Steps to Help Prevent a New York Will Contest
While there’s no foolproof method to prevent Will contests, there are steps you can take to reduce the likelihood of such disputes:
- Minimize your estate’s involvement in probate. Strive to avoid probate where possible. All assets required to go through probate could be held up in a Will contest. Non-probate assets, on the other hand, bypass probate entirely, thus shielding them from Will contests. Examples of non-probate assets include trust holdings, specific jointly owned property, and funds in payable-on-death (POD) accounts.
- Incorporate a “No Contest” clause into your Will. Consider including a “no contest” clause in your Will. This clause disinherits anyone who attempts to contest the Will and fails to do so successfully. For a no contest clause to work, however, you must gift something to the person likely to contest your Will so that he/she has something to lose. The potential contestant must then choose to accept his/her inheritance as outlined in the Will or risk that guaranteed inheritance and gamble on inheriting through intestate succession if the Will contest is successful.
- Discuss the terms of your Will with loved ones ahead of time. While a deeply personal choice, discussing your intentions with potential beneficiaries in advance can mitigate conflicts, misunderstandings, and disputes following your passing, reducing the likelihood of a Will contest.
Do You Have Questions about How to Prevent a New York Will Contest?
For more information, please join us for an upcoming FREE seminar. If you want additional information about what you can do to prevent a New York Will contest when your estate is probated, contact the Long Island estate planning attorneys at Eghrari Wealth Training Firm by calling us at 631-265-0599 to schedule your appointment.
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