Cone Marshall Representatives Give Tips For Avoiding Changes To Wills

The Cone Marshall law firm, a highly reputable firm that is committed to the appropriate development and implementation of tax and trust funds, has recently held a discussion with the firm’s recent clients to discuss various ways that families can decrease the possibility that their wills will be challenged by family members in the event of the executor’s death. Representatives from the firm stated that executor’s can effectively eliminate the chance of a challenge to their wills by having themselves declared competent by mental health professionals during the development of the will, implementing a no-contest clause in the document, and ensuring that the will is executed by a reputable law firm.

 

Declaration of Executor’s Competence

Cone Marshall Representatives stated the most common reason given in New Zealand for the contesting of a last will and testament is the incompetence of the executor. The representatives stated that executors should have themselves declared legally sane and of sound mind by a legal professional during the development of the will in an effort to prevent relatives from making this argument in court. By having themselves declared legally sane, executors can eliminate this argument before any relative has the chance to use it against them.

 

Implementation of No-Contest Clause

Cone Marshall representatives also suggested the implementation of a no-contest clause in the last will and testament document. A no-contest clause generally states that any person who was named in the executor’s will and decides to contest the will gets nothing in the event that they lose the court case. By implementing this clause in the will, executors greatly diminish the possibility that a relative will challenge the decisions made on their behalf. Generally, relatives will not risk the amount that they have been guaranteed in the executor’s will to challenge a decision.

 

Execution of Will by Reputable Law Firm

Cone Marshall representatives stated that an executor’s final course of action to protect against challenges to a will is to ensure that the will is appropriately executed by a reputable law firm. Beneficiaries of the will can legally contest the decisions made by the executor if the will is not properly executed. For this reason, Cone Marshall representatives suggest that the executor hire a law firm that has developed an expertise in the area of estate planning to execute the last will and testament. By hiring a firm like Cone Marshall to execute the will, executors can rest assured that their final wishes are respected.

 

Read more at http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10846049.