When an Inheritance Passes Outside the Family, What Concerns Are Raised? | Monroe Township - Middlesex County
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When an Inheritance Passes Outside the Family, What Concerns Are Raised?

September 20, 2016

Filed under: Beneficiaries — Neel Shah @ 9:15 am

Any time that someone who is not related by blood is named as a beneficiary of an asset, lawsuits are a potential concern. When you are thinking about giving assets to someone who is not a relative, you need to be extremely careful and consult with a knowledgeable attorney.

One of the primary reasons that red flags are raised about leaving assets to anyone outside of the family has to do with elder financial exploitation which has been on the rise in recent years. Even in the event that a beneficiary or even the person granting the gift has pure motives, this could still raise questions when the estate is being probated.

Naming someone other than a natural heir as an estate beneficiary can bring forth a wide range of emotions from confusion to suspicion to anger especially because the majority of individuals in America will leave behind assets to a charity or loved ones who are related by blood.

One of the best ways to address this situation if you do plan to leave assets to someone outside the family is to have someone stipulate to your mental capacity at the time of making the will. Consulting with an experienced New Jersey estate planning attorney to ensure that your document is legally valid is essential as well.

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