{"id":3182,"date":"2020-05-18T16:07:17","date_gmt":"2020-05-18T16:07:17","guid":{"rendered":"https:\/\/omnia-digital.com\/merlyn\/blog\/?p=120"},"modified":"2025-12-31T13:44:38","modified_gmt":"2025-12-31T08:14:38","slug":"will-probate-law","status":"publish","type":"post","link":"https:\/\/omnia-digital.com\/merlyn\/will-probate-law\/","title":{"rendered":"WILL &#038; PROBATE LAW"},"content":{"rendered":"\r\n<p><strong><a href=\"https:\/\/omnia-digital.com\/merlyn\/blog\/?p=120\" target=\"_blank\" rel=\"noreferrer noopener\">HOW TO DRAFT WE DRAFT A WILL<\/a>? <a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=8&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjHq_Hb2r3pAhVNzjgGHQ1xDvkQFjAHegQIDRAG&amp;url=http%3A%2F%2Fdiehardindian.com%2Fdrafting-a-will%2F&amp;usg=AOvVaw0yq42zG3u-vBfKR5I9EV7s\" target=\"_blank\" rel=\"noreferrer noopener\">HERE ARE SOME IMPORTANT POINTS TO BE NOTED WHILE DRAFTING A WILL<\/a>: <a href=\"https:\/\/omnia-digital.com\/merlyn\" target=\"_blank\" rel=\"noreferrer noopener\">MERLYN LAW FIRM<\/a><\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Don\u2019t name specific investments in your will. You are not guaranteed to still own them at the time of your death. And if you promised that specific bequest to one of your beneficiaries, your estate will purchase it to devise to the beneficiary, which could have significant negative repercussions on the remainder of your estate.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Be wary of contingencies when making gifts. You may want something for your beneficiaries that they don\u2019t want for themselves, and it could be to the detriment of the other beneficiaries or your estate. Some contingencies won\u2019t even be recognized by the courts and could be determined to be restraints on alienation and void out the contingent bequest altogether. This could mean unintended results for your estate and\/or beneficiaries.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>NEVER leave assets to a minor. Legally, they are not permitted to have over a certain amount of property in their name until the age of the majority. We would suggest that our clients designate a property guardian or put their money in a trust.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Thinking you\u2019re the first to die is another big mistake. Some people leave gifts for people assuming they will outlive them and then they don\u2019t. The gift still has to go somewhere and if you didn\u2019t plan for an alternate beneficiary, the laws of distribution and lapse, in your state of death will govern who gets it in their absence.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Not having a <strong><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=12&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwiJncGE273pAhUrzDgGHUD6CTAQFjALegQIBBAB&amp;url=https%3A%2F%2Fwww.hg.org%2Flegal-articles%2Fwhat-are-residuary-clauses-22405&amp;usg=AOvVaw0ToJ5UO5Qm478JaeAiZwib\" target=\"_blank\" rel=\"noreferrer noopener\">&#8220;residuary clause&#8221;<\/a> <\/strong>is a cause for all kinds of problems. Let\u2019s assume when you die you have much more than you had when you drafted your will. Well, where\u2019s it going? If your will doesn\u2019t dispose of it, the laws of intestate succession will. And you have no say in that.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><strong><a href=\"https:\/\/www.hg.org\/attorney\/merlyn-law-firm\/136065\" target=\"_blank\" rel=\"noreferrer noopener\">Merlyn Law Firm<\/a><\/strong> always advises clients that a<strong> Last Will and Testament<\/strong> is an estate planning tool of last recourse. It\u2019s really what you should use just in case your other estate planning tools fail. One should not rely upon it as their main source of distributing their estate. But if you do have one, make sure it\u2019s drafted to avoid these mistakes. \u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=2&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwi7keKl273pAhWKxDgGHWIRBEcQFjABegQICxAD&amp;url=https%3A%2F%2Fwww.lawyers.com%2Flegal-info%2Ftrusts-estates%2Fwills-probate%2Fwhy-is-a-will-important.html&amp;usg=AOvVaw3Ep7g_DgMHMxKNMxOtNIps\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>WHY IS IT IMPORTANT FOR YOU TO DRAFT A WILL?<\/strong><\/a><\/p>\r\n\r\n\r\n\r\n<p>We don\u2019t care how much you think you do or don\u2019t have, or how old or young you think you are, or whether you have children or not. The bottom line is \u2013 you need a will and there is no getting around it.<\/p>\r\n\r\n\r\n\r\n<p><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwiujuO3273pAhXuxzgGHSJwBzYQFjAAegQIARAB&amp;url=https%3A%2F%2Fwww.investopedia.com%2Farticles%2Fpf%2F08%2Fwhat-is-a-will.asp&amp;usg=AOvVaw1VBnpZr4LuBsMhmVCbs99t\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>A will is a legally binding document whereby a person expresses her wishes with regard to her possessions and loved ones.<\/strong><\/a> The will is drafted while alive and goes into effect once the drafter (also known as the testator) dies. A will is the preliminary document drafted as a part of any estate plan. A well drafted will should accomplish the following:<\/p>\r\n\r\n\r\n\r\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 appoint a representative (and alternates) to administer the estate;<\/p>\r\n\r\n\r\n\r\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 appoint guardians for minor children (and their property);<\/p>\r\n\r\n\r\n\r\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 specify the powers and restrictions for the named representative(s);<\/p>\r\n\r\n\r\n\r\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 dispose of all of testator\u2019s probate property; and,<\/p>\r\n\r\n\r\n\r\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 describe the manner in which the distributions shall be made.\u00a0<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Failure to have a will drafted, means all of your assets will be distributed by the laws of intestate succession in your state of residence.<\/li>\r\n<li>The laws vary, but most split the assets and distribute half to the then living spouse and the other half is split equally amongst any then living children. Grandchildren of deceased children of the deceased may receive per stripes or per capita, depending on the rules in your jurisdiction.<\/li>\r\n<li>\u00a0Per stripes is a fancy way of receiving by representation, so the grandchild would step in the shoes of the child and receive her intestate share.\u00a0<\/li>\r\n<li>Per capita splits what is left to distribute amongst all that are entitled to inherit. Intestate succession does not account for kids that you may not wish to inherit, or other relatives with whom you would not wish to share in your belongings. It simply distributes assets based on a state statute which solely considers lineal heritage.\u00a0<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Make sure your kids are in good hands. The courts have no way of determining who you would want to care for your kids in the event of your death. Why would you leave anyone else to make a decision of this magnitude?\u00a0<\/p>\r\n\r\n\r\n\r\n<p>Ensure the details are being worked out by someone you know and trust. Appointing your executor in the will provides you with the confidence that your estate will be administered the way in which you would prefer.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>If your estate isn\u2019t made up of a lot, a simple will can likely do the trick. If your assets, liabilities and beneficiaries are a bit more complex,<strong> <a href=\"https:\/\/www.hg.org\/attorney\/merlyn-law-firm\/136065\" target=\"_blank\" rel=\"noreferrer noopener\">an estate planning\u00a0lawyer<\/a><\/strong> is necessary.\u00a0 Just get it done!<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>HOW TO DRAFT WE DRAFT A WILL? HERE ARE SOME IMPORTANT POINTS TO BE NOTED WHILE DRAFTING A WILL: MERLYN LAW FIRM Don\u2019t name specific investments in your will. You are not guaranteed to still own them at the time of your death. And if you promised that specific bequest to one of your beneficiaries, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,51],"tags":[36,50,33,60,37,61,52,62],"class_list":["post-3182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-legal-services","category-wills-and-probate-law","tag-lawyers-merlynlawfirm","tag-lawyersfordraftingofwill","tag-lawyersinchennai","tag-topcontractlawyersinchennai","tag-toplawfirmsinchennai","tag-toplawyersinchennai","tag-will","tag-willandprobate"],"aioseo_notices":[],"acf":[],"_links":{"self":[{"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/posts\/3182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/comments?post=3182"}],"version-history":[{"count":0,"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/posts\/3182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/media\/4653"}],"wp:attachment":[{"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/media?parent=3182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/categories?post=3182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omnia-digital.com\/merlyn\/wp-json\/wp\/v2\/tags?post=3182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}