Where To Turn When Beneficiaries Die Before You Die Analysis

Where to Turn When Beneficiaries Die Before You What happens when a beneficiary of your will dies before you die? The typical lawyer’s answer applies. It depends. Consider how a will is typically drafted. First are bequests of tangible personal property such as jewelry, furniture and cars — things you can touch. Then there are bequests of sums of money or property. Next there is the residuary clause, disposing of everything that wasn’t disposed of above. Despite its name, the residuary clause usually disposes of the bulk of the estate. If the recipient of a bequest is deceased and the bequest lapses, it falls to the residue, the last provision of the will. If I leave $1,000 to my friend, Mary Jones, and she fails to survive me, her
He had gone to great pains to make a will to protect his only child and his son’s children. Because of the son’s history and circumstances, the will created trusts for the child and for the grandchildren. In the client’s judgment, the child could not handle receiving large sums of money all at once. When provided with a copy of the father’s will the day following his father’s death, the son became angry and abusive. He threatened that if he did find the will, he would tear it up. The son immediately moved into the father’s home and reputedly began searching through all the decedent’s belongings. The original will was never
Sometimes, if clients do not have a safe deposit box and do not wish to rent one, they choose to keep their will wherever they keep other important papers at home. Most folks in this category have a safe, strong-box, or “fireproof” box. I always caution folks that there is no such thing as “fireproof.” These boxes are fire-rated to withstand high temperatures for a given period of time, say one or two hours, and this is often inadequate for a fire which stays hot long after it appears to be “out.” These boxes are nice little