Taxation & Estate Planning

The Estate Planning - Probate Connection

By Joel A. Schoenmeyer

It's important for both the client and the estate planning attorney to think carefully about how bequests will work. Let me give an example: right now I'm dealing with a probate case involving a Will. The Will makes specific bequests to a number of individuals, many of them in foreign countries, in amounts ranging from $100 to $500 (most of the bequests are for $100). To say that this is an administrative hassle would be an understatement (especially since many of the specific beneficiaries cannot be located). If the attorney who drafted the Will had also been familiar with probate, he would have been able to advise the client on the problem with gifts of this sort, and offer alternative means for the testator's wishes to be satisfied.

Full post as published by Death and Taxes Blog on March 09, 2009 (boomark / email).