Most moviegoers don't go to the movies hoping to learn more about estate planning. But at the center of the plot of the hit movie 'Knives Out' are key estate issues that many families face. Megan Gorman goes through the ones that are right - as well as the one is just for theatrical effect.
... [+]One of the surprise hits of the 2019 movie season has been the murder mystery. With a star-studded cast including Jamie Lee Curtis, Daniel Craig and Chris Evans, it’s an engaging movie event. In fact, both moviegoers and critics are connecting with this fun whodunit that has brought in over $70 million dollars at the box office and a slew of award nominations.
While this is a pivotal scene in the movie, it should not be expected that when someone dies, this is how the process plays out. This is due in part to increased longevity. Often estate plans haven’t been updated to address changes in the family. In cases where the testator has dementia or is otherwise vulnerable, there is a risk that they may be taken advantage of. The typical outcome when a will is contested is some form of settlement.One of the more common causes of action when a will is challenged is that of undue influence.
Burns gives some insight on how Harlan probably should have handled the changes to his will. “Talking about money and your estate plan is challenging, particularly with children and other loved ones,” he says. “Nevertheless, I encourage clients to do so. Candid conversations have a good track record of eliminating will challenges.”When undue influence fails, the Thrombey family turns to the concept of the more dramatically named “slayer statute”.
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