Do Not Put These In Your Will

18 Jan 2023 · 1 min

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1:01

In this concise informational video, the speaker, a proponent of using trusts over wills, outlines three categories of assets or wishes that should never be placed in a will. First, a business should be excluded because probate would delay transfer, expose the business to court scheduling, and invite challenges; instead, a lawyer‑drafted business succession agreement and a trust are recommended. Second, personal funeral and burial preferences belong in a separate letter to close relatives, as wills are typically not consulted until weeks after death. Third, direct bequests to a child with special needs should be avoided because they can jeopardize the child’s eligibility for government benefits; alternative planning tools such as a special‑needs trust are implied. The overall message is to use appropriate legal instruments rather than a will for these matters.

Chapters

You should never put these things in your will. If you watch my videos, you know that I much prefer trust over wills. But if you must have a will, do not put these things in it. Thing number 1, your business. Why do you not want to put your business in your will? Because it has to go through probate and probate takes a lot of time. You don't want your business subject to the court's calendar. Also, probate is just a perfect opportunity for somebody to come in and challenge the will. You don't want your will subject to that. You don't want your business subject to that either. And you need to go see a lawyer and have a business succession agreement drawn up. Do not put your business in your will. Thing 2: your wishes and desires for your funeral and other arrangements. Typically, a will is not consulted until, you know, weeks after the death. So you don't want to put those kind of things in your will. You want to write a letter to your closest relatives and have that on hand for them. Thing 3: if you have a child with special needs, you do not want to give them anything in your will. If you do that, it might knock them off of