Avoid challenges to your will.

When someone dies, it is not uncommon for the children, spouse, ex-spouse, relatives, business partners, and anyone else who knew the decedent to break into bitter warfare over the division of the estate. Often, the battle doesn't even involve money, but who gets Aunt Jenny's jewelry or Grandfather's antique golf clubs. Sometimes, the dispute ends up in court, costing the estate heavily in attorney's fees.

Most people assume that only large estates get into these squabbles. While it is true that wills involving small estates are less likely to be challenged, many families actually have larger estates than they may realize once retirement accounts and insurance policies are included. Moreover, since the baby boom generation is set to inherit the largest intergenerational transfer of wealth in human history, battles over wills are sure to follow.

If you think your estate and will might be vulnerable to challenge, the Institute of Certified Financial Planners offers a number of steps that you, your financial planner, and your attorney can follow to bullet-proof your will against any challenges.

Look for warning signs. Wills are more susceptible to challenge if they involve large estates and/or remarriages; leave large amounts to a charity or someone outside the immediate family; are made by an ill or infirm elderly person or someone of questionable mental competency; vary significantly from previous wills; have undergone numerous revisions; disinherit or leave unequal shares to children; or are not drafted and signed with the guidance of a lawyer.

Confirm your mental state. Doctors can determine competency with simple mental tests. If you alter your will while confined...