Problem: Clients seeking to pass assets to friends and family often desire to condition the gifts they are making. For instance, a testator may want a friend to receive an asset, but does not want that friend’s children to receive the asset if the friend passes away before the testator. Drafters facing this situation often use conditionals, or “if… then…” language to express the testator’s wishes. In the simple situation mentioned above, such language might be “I give all of my estate to John. If John and I die at the same time, then I give my estate to Charity.” The idea embodied in this language is twofold. First, the testator does not want her children to receive her estate; she would like the estate to go to either John or Charity. Second, if John dies at the same time as the testator, she will not have time to revise her will to ensure the Charity receives her estate.
Problems arise when the condition never comes to pass. In the above example, if John dies well before the testator dies, then the condition upon which the Charity would receive the estate fails. Testator’s estate, then, would pass to her children via intestacy, even though it is clear that the testator did not want her children to receive her estate.
Please see full article below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.