Estate planning is not always as simple as deciding who you want to inherit your property. Sometimes, you also have to consider what will happen to the property if the person you are leaving it to passes away shortly after he or she receives the property. The question is whether you would want those people to have your property.
For example, the singer Jim Morrison left behind a short Will that stated that his girlfriend would receive all of his property if she survived him by 90 days. She did survive him by 90 days and inherited Morrison’s property. However, she passed away shortly thereafter and she left everything she owned to her family. Her parents got everything, including everything that Morrison owned. Needless to say, Morrison’s family was not happy about this, but there was nothing they could do.
There are not easy answers to how to leave your property to someone and make sure that if that person passes away shortly thereafter that the property goes to someone you would want to have it. However, there are some things you can do. Talk to an estate planning attorney, if this is a concern for your estate plan.
Latest posts by Stephen A. Mendel, Estate Planning Attorney (see all)
- Do I Need to Include Retirement Planning in My Estate Plan? - July 15, 2019
- Texas Trivia- Who played the lone survivor of the Alamo in “The Man from the Alamo?” - July 12, 2019
- Staying Current on Estate Planning - July 9, 2019