George W wrote:
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The Will provides for a "per stirpes" distribution of the Residual
Estate. Per stirpes, means "in line of decent". Therefore in the
event that the Son or Daughter pre-decease her, then that person's
share would pass on to his/her children.
In the event that the child is a MINOR, then she has provided for
a trustee to handle those funds.

I do not particularly like the wording, but that is the intent.

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See above

Cal Lester CLU


--
Everyone should have a spouse, because there are a number of things
that go wrong that one can't blame on the government.

This signature file is generated by Pick-a-Tag !
Written by jeroen[at]vanbaarsel.net

On 9 Sep 2003 09:05:05 GMT, dmrg[at]aaahawk.com (George W)
wrote:

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This is possible but ...

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This explanation makes more sense. Who gets your share if
you die before your mother? I would guess it is your
children. You don't mention if you have any nor do you
mention your age or marital status. But it seems possible
that even if you have no children that between the date of
the writing of the will and the date of your mother's death
that you could have a child and you could die before your
mother. So why not just cover the bases? What does it
hurt?

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This is a trust under the will.

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Lets say you have 2 kids and your sister has 4 kids and you
both die before your mother. Per stirpes means your kids
each get 25% of the estate and your sister's kids get 12.5%
of the estate. In other words each doesn't get 1/6 of the
estate but a prorata share of their parent's 1/2. The 1/6
method is called per capita.

Drew Edmundson, CPA (NC)
e-mail is my first name at nccpa dot com

Maybe you can help me with a question about a Will.

A Will is written by an attorney for a mother leaving all property and
financial wealth to a son and daughter. The mother is a widow. At the
time the will is revised for the last time, both son and daughter are
over 35 years old.

I, (mother's name), of the Town of XYZ, County of XYZ, State of XYZ,
being of sound and disposing mind and memory do hereby make, ordain,
publish and declare this my Last Will and Testament, hereby revoking
any and all Wills or Codicils heretofore made by me, in manner and
form as follows:

FIRST: I order and direct that my Executrix, hereinafter named, pay
all my just debts, other than those secured by mortgage and funeral
and testamentary expenses, as soon as may conveniently be done after
my decease.

SECOND: I direct that all estate, inheritance and like taxes
(together with any interest or penalty thereon), imposed by the
Government of the United States (or any state or territory thereof),
of all property required to be included in my gross estate for estate
and like tax purposes, by any such government whether the property
passes under this Will or otherwise, including property over which I
have a power of appointment, be paid out of my residuary estate
without contribution of any recipient of any such property.

THIRD: All the rest, residue and remainder of my estate, both real
and personal, of whatsover kind and wheresoever situated, of which I
shall die seized, possessed or in any wise entitled to, I give, devise
and bequeath in the following manner:

A. Fifty (5 0%) percent to my son, (son's name) of (city and state)

B. Fifty (50%) percent to my daughter, (daughter's) of (city and
state), in equal shares, per stirpes.

The fourth article of the will says:

In the event, any beneficiaries under this my Last Will and Testament
are minors, then, I give, devise and bequeath those shares of my
estate, both real and personal, of whatsover kind and wheresoever
situated, of which I shall die seized, possessed or in any wise
entitled to, to BENEFICIARY NAME 1 as Trustee. In the event
BENEFICIARY NAME 1 shall predecease me or in any way fail to qualify
as such Trustee, then I appoint BENEFICIARY NAME 2, as Successor
Trustee of this my Last Will and Testament.
===================

I don't understand why the language in the will says "In the event,
any beneficiaries under this my Last Will and Testament are minors,
......

Both son and daughter are over 35. Why is the language of the Will
refering to beneficiaries being minors?

BENEFICIARY NAME 1is named a Trustee. Even though neither of the two
beneficiaries are minors, does this will have a trust feature in it?
Does the Will contain a Trust or not?

A lawyer friend said no. He said the lawyer who made up the Will
probably just used boiler plate language from standard language that
used for wills.

Another lawyer said the language about minors creates a "minors trust"
and applies to the mother's grand children. The grandchildren are not
named anywhere in the will, nor is the word grandchildren mentioned in
the will.

Who's correct and if there is a minors trust, how different is a
minor's trust from other kinds of Trusts established by a Will?

And also, what does "per stirpes" mean?

Thanks for any feedback or general infomation. I'm not looking for
advice.

George W

George W