Being cut out of a will can happen for a variety of reasons, and every situation is different. A parent may be unhappy with a child’s life choices or may simply have fallen out of touch with that child. As varied as family life is from one family to the next, so are the reasons for disinheriting a child. However, there are three big reasons that some experts have noted:
1. Fear that money will be wasted.
Some parents have worked hard for decades to increase their wealth. They don’t want to leave it to a child who will burn through it all in a few years and squander what they’ve provided.
Parents and children don’t always get along. Slights between family members can leave lasting wounds for years. Some people cut heirs out of their wills as a last way to “get back” at someone for what they believe was an injustice.
3. Thinking the heir really will not mind.
In some cases, parents think heirs don’t even want money or assets. They may leave all their money to charity, not realizing how much it actually meant to the child.
If you’re considering cutting someone out of your will, it is possible. Just carefully think about the reasons that you’re doing it. In some cases, there may be other legal options that you want to at least consider.
For example, if you think a son or daughter will waste your money, you may be able to set up a trust that has provisions to protect the money and dictate how it is used. You don’t have to leave cash directly to that individual.
Source: NBC, “Last will and contempt? The pain of being disinherited,” Diane Mapes, accessed April 07, 2017