Probate: Post-Death Planning

Probate:  Post-Death Planning

Sometimes a proposed beneficiary distribution needs to be corrected after the death of a loved one.

Example 1: Grandchildren Born After the Will Was Signed

Probate: Post-death planning. One common circumstance is when a grandparent’s last will and testament clearly indicates that all of her grandchildren will inherit an equal share. She names all of the grandchildren who are alive at that time. But what happens if the last will and testament is not updated to include grandchildren born after the will was signed?  This would involve post-death planning.  Do you simply leave out the grandchild or grandchildren that were not mentioned because the last will and testament does not include them (i.e. sorry, you are out of luck).   Or, do you try to correct what was certainly your grandmother’s intention?  But, how do you do it?  What happens if there is disagreement between the various beneficiaries?   How do you correct her intentions when not everyone agrees on what should be done?  That is why you need a good attorney to navigate through those issues.

Example 2:  Wrong Beneficiary Designations

Another example is what happens when beneficiary designations are not updated?   What if your parent left all of her children as equal beneficiaries in her 401(K) plan but one of her children passed before her?  What was this parent’s wishes for her deceased children’s share?  If her intention was that deceased child’s share was to go to that deceased child’s children, by not updating the 401(K) beneficiary designation, that wish is likely not going to be honored. What do you do?   Engage in post-death planning with an attorney.

Addressing Post-Death Planning Concern

The post-death planning process is a tricky process. It often involves the cooperation of many, or all, beneficiaries of the estate and must be approved by the court. During our initial consultation, we help identify post-death planning concerns and create a plan to address those concerns.