The worst thing that can happen with any estate plan is to have the will invalidated after the estate planner dies. This could render the entire goal of the estate plan moot, and then the estate could be managed (and divided) according to a prior will or Tennessee intestacy laws. To avoid a situation like this, estate planners must make ever effort to ensure their wills are valid by adhering to the following six requirements:
The singer, Aretha Franklin, did not leave a will behind as a guide to distribute her estate assets. The singer's $80 million estate, which will probably be divided among her four sons will need to be probated according to intestate laws of her home state of Michigan. Her four sons have already filed the appropriate legal paperwork to lay claim to their late mother's estate.
As we discussed in a recent post, three children of country music legend Glen Campbell filed a lawsuit to invalidate the singer's two most recent wills. Their claim was, essentially, that their father was not of sound mind due to Alzheimer's disease when he drafted the wills.
Three children of deceased country music legend Glen Campbell are pursuing legal action to contest two of the singer's wills. The children, who were excluded from two wills, may have the right to receive inheritances if their attempts to invalidate the wills are honored.
You love your art collection, which is why you want to pass it on to your favorite people as a part of their inheritances. However, bequeathing art the right way takes advanced preparation to ensure that your loved ones benefit from your art pieces without suffering from tax burdens, arguments over who gets what and other probate-related nightmares after you're gone.