Many people don't realize that not everything can be addressed in a last will and testament. If you try to make your will a catch-all for every little thing, you could end up invalidating the entire will. To be on the safe (and legal) side, allow a probate or estate attorney to assist in you creating a will that covers your property, debts, bequests, and anything else that fits there. If you are interested, read on to find about some issues that are best not addressed in a will.
Bequests with Conditions
It's not technically illegal to add conditional riders onto bequests, but some conditions may be. A conditional bequest is where you designate property to be given to someone only if certain conditions are met. For example, you might provide a sum of money to a granddaughter when they graduate college. While this might seem like a good idea on the surface, conditional bequests can unfairly burden those inheriting funds and may be illegal in some states.
Taking Care of Fido
To say that pets are a part of the family is an understatement. Many pet owners just naturally wish to ensure that the beloved dogs, cats, birds, and other animals they leave behind are cared for in their absence. While the impulse is laudable, you cannot leave property to a pet using your will. You can, however, make provisions for that pet using either a will or a trust. If you use a will, you can designate a trusted family member or friend to receive the pet as a bequeath. Animals are considered property and can be left to beneficiaries just like a home or a car can. Another relatively recent idea is to use a special type of trust to address the needs of the pet. A person is appointed caregiver of the pet and a sum of money is set aside from the trust for their care.
Many people use their will to make clear their final wishes. Unfortunately, that may not be the best way to ensure that your wishes are known. Wills are sometimes not located or read until after the burial. For example, if your will has been left in the safe deposit box at the bank and it's a long holiday weekend, it might be several days before the will can be accessed. Instead, place your plans in an easy-to-find location, or make arrangements directly with the funeral home.
Go to sites like https://www.linskylaw.com to learn more.