Estate Planning Attorneys Bristol : Probate & Elder Law Attorneys in Bristol, TN

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Estate Planning, Probate & Elder Law Bristol, Tennessee

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ESTATE PLANNING, PROBATE & ELDER LAW NEWS

» Mathas takes reins as NYLI chief

» Wills and Provisions That Fail

I didn't start my legal career doing much estate planning; for the most part, I was a probate attorney, handling Wills that had "matured" into deceased estates. I think that's a helpful experience, as you quickly figure out from a practical perspective the difference between good provisions and provisions that fail.

Let me give an example from a Will (not drafted by me, luckily) that recently came across my desk. The Will gives most property in equal shares to the decedent's three living children, which is fine. But it also makes a gift of certain jewelry to "the first of my granddaughters to marry." Setting aside the potential inequality here -- why favor the first granddaughter only? why favor only granddaughters? -- there's a problem: none of the decedent's granddaughters have married. So what now? At the time the Will was drafted, this provision failed (it didn't work), and it still fails today.

As a probate attorney, the problem is clear. I have to file with the probate court a document listing the decedent beneficiaries (legatees). Who in the world do I list from the above provision -- all of the granddaughters? someone who can hold the jewelry in trust until a granddaughter marries? somebody else?

If the draftsperson had spent five minutes thinking about the practical ramifications of this language, he or she could have easily fixed it.

» Torzewski joins Norris McLaughlin as tax partner

Norris McLaughlin & Marcus, P.A. has announced that Thomas N. Torzewski has joined the firm as a member of the taxation and estate planning & administration groups.

» Importance of estate planning should not be underestimated

B7 Bob Hillier - Investing Most people today have a general understanding of the impact a sound estate plan will have on their financial future, but few have the expertise to deal with the complex issues ...

»  Best Post-Retirement Paychecks
Retirees today have abundant opportunities to work. Wal-Mart greeting may have to wait.