What Should I Leave Out of My Will?
When drafting a will, there are two critical mistakes people commonly make that can create complications for beneficiaries and families.
Avoid Conditional Gifts
The first pitfall involves conditional bequests – gifts tied to specific events or behaviors. While the intention may be encouraging (such as graduating college or getting married), these conditions frequently backfire.
A conditional gift is when money or property is given only when and if a specific event takes place. What seems straightforward can become problematic if circumstances change – a beneficiary might pursue a different career path or face unexpected life events that prevent meeting the condition.
Better alternatives include:
- Leaving gifts outright without conditions, while expressing your hopes verbally or in separate correspondence
- Using a trust structure where a trustee has discretionary control over distribution timing and amounts
Avoid Fixed Dollar Amount Bequests
The second recommendation warns against specifying exact dollar amounts in your will. This approach can create family conflict, particularly if your estate grows or shrinks significantly.
Recommended solution: Use percentages instead. This method automatically adjusts distributions based on your actual estate value, ensuring each beneficiary receives their intended proportional share regardless of economic changes.
Key Takeaway
Working with an experienced estate planning attorney ensures your will reflects your wishes while minimizing potential disputes and complications among your loved ones. Contact The Stegall Law Firm to schedule a consultation and make sure your will is structured to protect your family.
