When I have a parent (or parents) in my office for whom I am drafting a last will and testament, it is always interesting to watch the reaction to my question, “Is there a problem child in your family?” When there is, the reaction is always immediate. The parent acknowledges the child who will be the one to ‘cause trouble’ after he or she is gone. This requires special drafting if you want to be sure that your wishes are carried out without shenanigans.
Drafting your will requires thought and planning. You may put requirements that precede any gifts to the problem child. Your personal representative must follow your will’s directions. These requirements can be simple or complex. It could be something like “Johnnie must complete a driver’s education course before he receives any inheritance,” or “Jane must successfully complete Financial Peace University before she receives any inheritance.” If you want to see a humorous example, watch “Brewster’s Millions.”
Failure to plan for the problem child and simply hope that he or she will behave, you are, indeed, failing to plan.
Please contact Mateya Law Firm to help you with your estate planning and administration needs.