A counter will is a legal document allowing an individual to nullify any wills, trust or estate plans previously established. This type of document is not intended to replace an existing will, rather it exists to negate previous wills, trust and estate plans.
Counter wills are often used by individuals who wish to remove an unwanted executor or beneficiary from an estate plan. Although counter wills are legally binding documents, in order for them to have effect, they must comply with the rules of the state in which the original wills, trust or estate plans were drafted.
Counter wills are also used when a will, trust or estate plan has been revised multiple times, and it is unclear which version is valid. In such cases, a counter will can void all previously executed versions of the will, trust or estate plan to avoid complications.
Modern Uses for Counter Wills
Counter wills are especially useful in divorce situations. When a couple divorces and assets must be divided equally, counter wills can be used to ensure no party is excluded from receiving their rightful share of the estate.
Counter wills are also used when co-owners of a business are looking to dissolve the business partnership. During this process, each party is able to use a counter will to ensure their rights as a partner are respected and their financial interests remain secure.
Considering a Counter Will
Creating and executing a counter will is a complex legal process that should not be attempted without consulting a qualified lawyer. It is important to know that in order for a counter will to be recognized, it must follow the rules and regulations outlined by the state where the original wills, trust or estate plans were drafted.
Overall, counter wills are a powerful legal document for safeguarding an individual’s rights and interests. However, due to its complexity, anyone considering executing a counter will should speak with a lawyer to ensure their rights are fully protected.