The best way I think to do things is when you are still here in person.
My stepfather did just that days after being diagnosed with Alzheimer's.
My mother's will said to distribute equally among all offspring but after she was diagnosed with dementia three of the five had her change her will even though the law says anyone with dementia can not change a will due to mental disabilities.
The judge sided with the three thieves anyway , ignoring state law for their benefit.
This vid fails to make a couple of important distinctions. Big difference between a will and a trust, in terms of what happens to your estate. (Think PROBATE) In either case, you can decide where your remaining estate goes, should the children leave the planet before you do.
On life insurance we use “per stirpes”. If not it would only be divided between living named beneficiaries and the deceased beneficiary’s children get nothing.
The best way I think to do things is when you are still here in person.
My stepfather did just that days after being diagnosed with Alzheimer's.
My mother's will said to distribute equally among all offspring but after she was diagnosed with dementia three of the five had her change her will even though the law says anyone with dementia can not change a will due to mental disabilities.
The judge sided with the three thieves anyway , ignoring state law for their benefit.
To my lineal decendants, per stripes
This vid fails to make a couple of important distinctions. Big difference between a will and a trust, in terms of what happens to your estate. (Think PROBATE) In either case, you can decide where your remaining estate goes, should the children leave the planet before you do.
On life insurance we use “per stirpes”. If not it would only be divided between living named beneficiaries and the deceased beneficiary’s children get nothing.