Estate planning attorney Jerry Taylor explains why leaving your child $1 to disinherit them backfires. Even a token amount makes them a legal beneficiary with rights to information and distributions. Instead, use explicit language stating they receive nothing, as if they predeceased you.
If you're trying to disinherit your child, do not leave them a dollar in your trust. I don't know who came up with that idea, but it's a terrible one. And this is why. If you leave your child a dollar in your trust that you want to disinherit, what you are actually doing is giving them rights. Because you've left them a dollar, they are now a beneficiary of your trust. They have a right to be notified of the trust. They have a right to know what's in the estate. And they have a right to be kept up to date about what's going on with the distribution of the trust. Instead, you state specifically in your trust that you are leaving that child nothing. And for purposes of the trust, it is as though they died before you did. That is how you disinherit someone from your trust. Now, click on my picture and go to my link and get my newsletter.
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