I just don't want my siblings who abused me horribly for years to get any part of my estate. They are very wealthy and would easily be able to hire a lawyer to contest my will just to get the peanuts in my estate, which I plan to leave to charity and my ex spouse/friend.
"An in terrorem clause is a clause in a will which asserts that if a devisee challenges the will, the devisee will not receive her devise. In effect, the in terrorem clause creates a conditional devise, given only if the will is not challenged. Often the purpose of the in terrorem clause is to stop any potential contestants of the will by offering them payment in the form of a devise."
From what I've read, the minimum devise can be $1.00.
In other words, a bequest can be made, but if the beneficiary challenges it, that bequest will NOT be granted.
Curious though, if your siblings are very wealthy and you're not, why would you think they would challenge your will?
And please find a qualified and experienced estate planning attorney to prepare the will. Some folks consider preparing their own will, or downloading something from online. This isn't the best way to go if you have concerns about relatives challenging the will.
Best of luck.
If you choose to do a final 'get even' with them, write each one a letter to be mailed upon death with copy of the letters in a sealed envelope - marked not to be opened unless siblings protest the will.
My mom actually has a 'bill' in hers for my YB and for me. Somehow we 'owe' the trust money for who knows what? It's not legal, being written on a piece of paper and not notarized.
My son, who is an attorney, calls this a posthumous FU. It's just hurtful. I am just glad I found it before mother dies.
My grandmother had in her will a statement saying "anyone who contests any contents of my will, will receive $1 and my eternal disdain." This was absolutely legal and written specifically for my aunt who is a real pill. And Aunt B knew it.
A good lawyer can express that in language that can be legal and binding and not breakable.
They know why.
Don’t give them the satisfaction of hearing your disappointment after you are gone.
Think about the letter too. Do you really think it would make a difference to them? It may even bring them joy!
If you want to write a letter for therapeutic reasons, do so but consider not mailing it. Some people write their feelings down in a letter but do not mail it to the person.
Wishing you well. May you find peace.
Wish you good luck. If there is substantial money you are leaving when you pass it is best to hire a professional now to be certain that it is given exactly as you wish.
Siblings, IMO, usually aren't considered in Wills. If there is no Will, in my State, it goes Spouse, children, grandchildren, siblings then parents.
Like said, make ur Will as ironclad as possible. Even if u put in because of the abuse at the hands of my siblings I am not leaving them or their children any part of my estate.
He was a local realtor and it soon became evident that he had finagled his way into the estates of other single elders.
Caveat: siblings can go to court and fight it no matter what you do; they can claim you weren't competent when you put the title in your property into joint tenancy, etc.........but prevailing would be much more difficult and expensive for them.
I am not a lawyer but have had personal experience with this.
Not a good idea.
I would suggest that you focus on making your incapacity and estate planning as ironclad as possible:
- Who makes decisions regarding your medical and personal care? Name a backup and specifically exclude the siblings.
- POA for finances. Also name a backup. Add a trust institution or professional fiduciary as a final back up.
- Check your beneficiaries on retirement accounts etc.
- Notify your property manager in writing who has your spare key and is allowed to handle your affairs, care for your pets, retrieve your property ... again specifically exclude the siblings.
Recheck annually and provide fresh copies as needed.
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