Recently, beloved talk-show host, Larry King, passed away. However, his wife is challenging his most recent will, which she was left out of.
The contested will
King and his wife had been married 22 years, and she was in the process of divorcing him when he passed away. King’s most recent will was handwritten and stated that 100% of his assets should be distributed equally between his five children. There were no clauses in the handwritten will mentioning his wife.
King’s wife stated that they had an existing estate plan including a legitimate will that she was included in. The will King’s wife wants to enforce was executed in 2015. The couple’s divorce had not been finalized at the time of his death.
King’s son requested that he be appointed administrator of King’s estate, worth approximately $2 million.
The importance of estate planning
King’s death exemplifies how important it is to execute a formal estate plan while you are of sound mind and good health. There are legal formalities to executing an estate plan, and an estate plan may be challenged if it is believed the deceased was coerced, unduly influenced or incompetent to understand what they were doing in executing the estate plan. However, contesting an estate plan is challenging, and depending on the circumstances the person contesting the estate plan may be facing an uphill battle.
Do you have an estate plan?
Perhaps you have an existing estate plan that you want to modify, or it is your first time approaching estate planning. You understand that estate planning is important, and you want to ensure your estate plan is air-tight. By executing a solid will, perhaps a trust, power of attorney and a living will, you can ensure that your end-of-life wishes will be met and your assets will be distributed to the heirs of your choosing.