Do You Know These Shocking Truths About Wills?
Since most people don’t want to face their own mortality, it’s not hard to get why most people don’t create a will. But that’s far from the only shocking truth about wills. Estate attorney Jason J. Smith, an authority on how to avoid or defend contested wills, reveals several others in an interview with ThinkAdvisor.
- Generally, “the only person you can’t completely disinherit is your spouse.”
- “Children have no right to an inheritance.”
- “The No. 1 predator reaching for an inheritance is a potentially divorcing spouse.”
- “A disinherited child can essentially shake down” a parent’s estate.
Another truth, of particular interest to financial advisors with solo practices, is that after they die, the only folks who can legally operate their business and receive compensation are licensed FAs, Smith says.
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This post originally appeared here: https://www.thinkadvisor.com/2021/01/20/do-you-know-these-shocking-truths-about-wills/
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