When Inheritances Pass Outside the Family

A non-blood related beneficiary can increase the possibility of lawsuits. One of the biggest concerns when naming an individual who is not a natural heir is elder abuse and protection. Because elder financial exploitation is on the rise, it is important to ensure protection of that elder beneficiary through specified provisions. Additionally, you should have an expert determine the capacity of the testator. This will decrease the possibility of will contests if heirs are aware of the testator’s capacity at the time of will execution. We each have rights to distribute wealth in accordance with our wishes, so it is important to properly plan for your estate in these ways.

 See What Issues Are Raised When an Inheritance Passes Outside the Family?, Wealth Management, September 7, 2016.