What To Do About Unintended Beneficiaries in a Will - Does Your Estate Plan Actually Reflect Your Wishes?

Our MMJ Law firm, based in Tampa, Florida, has helped many Sunshine State clients to create and update their estate plans over the years. One issue that we often see arise is unintended beneficiaries in a will. This can occur for many reasons, such as outdated or incomplete estate planning documents, changes in family dynamics, or simply a lack of communication with your attorney. However, regardless of the cause, unintended beneficiaries can create significant problems when it comes to distributing your assets and carrying out your wishes.

What is a Beneficiary?

A beneficiary is a legal entity or a person(s) who will benefit upon the death of the person who created the will. In other words, the person who created the will pick that person or legal entity to receive a portion of their estate. These are generally called 'intended beneficiaries,' as the person who created the will wants to pass property to them.

However, estate planning can be murky and left open to challenges. For example, if a woman dies and gives her home to 'her children' and then another child comes forward who no one else knew about, that illegitimate child may now have a claim to the woman's home alongside her legitimate or known children. An 'intended beneficiary' is someone who is not necessarily known

by the executor of the will but who may be able to claim their intestacy rights under state law.

How Can I Ensure My Estate Plan Reflects My Wishes?

The first step is to review your estate planning documents with an experienced Tampa estate planning attorney. This may seem like a clear and obvious suggestion, but you would be surprised at just how many people have not reviewed their estate planning documents in years or have never even created a plan to begin with. Even if you have made an estate plan, it may be outdated or incomplete, particularly if you have experienced major life changes such as a marriage, divorce, birth or death of a loved one, or a significant change in your financial circumstances.

During the review process, your attorney will ask questions about your current wishes and objectives and assess whether your estate planning documents accurately reflect those goals. If they do not, your attorney may suggest changes to your will or other documents, such as a trust or power of attorney. These changes may include removing or adding beneficiaries, updating the amount of assets each beneficiary will receive, or creating new provisions to ensure that your wishes are carried out.

Finally, it is important to review and update your estate planning documents periodically. This can help ensure that your plan remains up-to-date and accurately reflects your wishes, particularly if you experience significant life changes or laws governing estate planning change. Many attorneys recommend reviewing your estate plan every three to five years or whenever you experience a significant life change.

MMJ Law Can Help You Today.

In conclusion, unintended beneficiaries in a will can create significant problems when it comes to distributing your assets and carrying out your wishes. However, there are things you can do and steps you can take to address this issue and ensure that your estate plan accurately reflects your current wishes.

The key is to work with our experienced Florida estate planning attorneys, communicate with your loved ones, and periodically review and update your estate planning documents. If you have any questions or concerns about your estate plan, we encourage you to reach out to us to schedule a consultation today.