Drafting wills that include provisions that take into consideration the needs of the clients for tax avoidance and special needs of their families, including the federal estate tax marital deduction and unified credit;
Use of protection devices against creditors and predators;
Use of trusts, including spousal support trusts and life insurance trusts to transfer and protect appreciable property;
Use of Qualified Domestic Trusts for resident alien spouses;
Estate Planning
Q. My spouse was previously married and has children with me and his former spouse. Our children are much younger. If he plans in his will to leave disproportionate amounts to his children how does he avoid any of them legally challenging the disposition?
A. Unless there is a real question about his mental capacity at the time the will is executed, this should not be an issue. But some counsel recommend an in terrorum clause in the will (and in a trust) that will invalidate that person’s interest who contests the will.
There are some examples of “in terrorum” provisions: LIFE INSURANCE
If any individual beneficiary of this life insurance trust shall at any time commence or join, directly or indirectly, in the filing or prosecution of proceedings in any court to oppose the admission of my Will to probate, to contest my Will or to have my Will set aside or be declared invalid, in whole or in part, then in that event such beneficiary shall forfeit any and all right, title or interest in or to the proceeds of this life insurance trust, legal or equitable, and the proceeds of this life insurance trust shall be distributed in the same manner as would have occurred had such beneficiary predeceased me.
WILL
If any individual beneficiary under any of the provisions of this Will shall at any time commence or join, directly or indirectly, in the filing or prosecution of proceedings in any court to oppose the admission of this Will to probate, to contest this Will or to have this Will set aside or be declared invalid, in whole or in part, then in that event such beneficiary shall forfeit any and all right, title or interest in or to my estate, legal or equitable, and my estate shall be distributed in the same manner as would have occurred had such beneficiary predeceased me.
Spouse Dies and Leaves No Will
Q. What happens to my property if I should die without a will?
A. Your property passes under the intestacy statutes of your state. For example, in Texas, if 1) a spouse dies, 2) is survived by his wife, and 3) he had no children other than with his wife, the surviving wife receives the property.
