Canadian Family Offices | Estate Planning
By Sarah B. Hood, July 22, 2024
It’s the stuff of classic murder mysteries. The family, hushed and anxious, gathers around the desk as the white-haired lawyer cracks the seal. Then, a gasp as the contents are read: “To my children, not a penny.” Chaos ensues.
People do still write children out of their wills, and sometimes for good reasons. But if the wish doesn’t seem justifiable when the will is read, it may not be carried out.
Many factors may influence a parent to leave their child out of the will. Most often, it’s done because of an estrangement, when the parent no longer feels that the child is still a member of the family. In some cases, it’s about an heir’s spouse or partner.
Even if you have very good reasons, estate-planning experts urge a rethink, and it could be overturned in court anyway…
The biggest problem is that when this issue comes up, you’re dead and buried, so you’re no longer around to clarify your reasons for doing it. Very often, when these things come before a judge, what we’re trying to get at is the intent, so any time we can clarify intent, that’s a good thing. A formal written expression of wishes is a valuable adjunct to the will in such situations. And I tell clients to do that even if they’re not disinheriting a child.
Cindy David, President, Cindy David Financial Group Ltd.
