When people think about estate planning in Jefferson County, Colorado, they usually think about a will. A will is the document that outlines how you want your assets dispersed after your death. When creating a will, most people want it to be iron clad – meaning something that can’t be changed. And that totally makes sense. You made the decisions you made for a reason and you don’t want someone else coming in and making changes. One way to try and minimize the risk that your will can be contested is to add a no-contest clause.
Lawyer for Drafting a Will in Wheat Ridge: What is a No-Contest Clause?
A no-contest clause is an addition to your will that states anyone who tries to contest the will automatically gets nothing. This can be a good incentivizer for people to leave well enough alone, because if they don’t, they may get nothing. Unless they have an incredibly strong case, the risk may be too great. Colorado estate and probate courts will honor no-contest clauses on a case-by-case basis. The state wants to allow people to exercise their right for someone to contest a will if they feel they have appropriate reasoning, while also respecting the writer of the will. The only issue that a no-contest clause doesn’t address is if someone who is not named as a beneficiary wants to contest the will. The clause only penalizes those listed in the will if they take it to probate. Someone left out of he will has nothing to lose, because they are already receiving nothing.
If you are ready to create a will, the best thing to do is contact an experienced estate planning and will lawyer from the Pearman Law Firm at 720-259-9528 for a free initial phone consultation.
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