If you want to make a gift to someone only if they should survive you, it must be clearly stated in the Will. One mistake that could happen is that a gift intended for a particular person could go to a totally unintended person.
For example, the Will states, I leave my shining little red corvette to my brother, John Doe. In some states, like Pennsylvania, if your brother does not survive you, then the gift could go to your brother's children. Your brother has 3 year old twin girls who clearly would not benefit from such a gift. This would not have been your intent. Therefore, you must make sure that you provide that a gift will "lapse" (not be given) if the person does not survive you.
Let experts help you with your Will and other estate planning matters. Contact us at http://www.ythlaw.com/
For example, the Will states, I leave my shining little red corvette to my brother, John Doe. In some states, like Pennsylvania, if your brother does not survive you, then the gift could go to your brother's children. Your brother has 3 year old twin girls who clearly would not benefit from such a gift. This would not have been your intent. Therefore, you must make sure that you provide that a gift will "lapse" (not be given) if the person does not survive you.
Let experts help you with your Will and other estate planning matters. Contact us at http://www.ythlaw.com/
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