A will should contain provisions that accurately reflect your final wishes. This includes who should inherit your assets upon your death.
As well as naming beneficiaries, you can also disinherit people so that they do not obtain share of your assets. Why might you want to do this?
An estranged relationship
Beneficiaries are people who inherit designated assets from your will. Heirs may also be entitled to some of the assets in your estate. Heirs are usually family members who may be legally entitled to parts of your estate unless specified otherwise.
By adding a disinheritance clause, you may be able to exclude adult family members, such as adult children with whom you no longer have a relationship, so that they do not receive any part of your estate upon your death.
Inheriting potentially large sums of money is a huge responsibility. If a potential beneficiary in your will has a track record of being irresponsible financially, it’s possible that you may want to disinherit them from your will.
That doesn’t necessarily mean that they can’t benefit from your estate in other ways, but inheriting a large sum of money may not be for the best.
Perhaps you want a large portion of your estate to go to charity. To maximize the potential for a charitable donation from your estate, you may want to disinherit certain beneficiaries to free up as many assets as possible.
Disinheriting people from your estate is possible but the process can be complex. The first step is ensuring that your estate plan is completely up to date. It will also benefit you to discuss disinheritance options with someone familiar with the law in this area.