Question: Will for future assets

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mahdi2 

Customer

 30 Jun 2017 22:29 UTCFri 30 Jun 2017 - 10:29 pm UTC 

Can someone write will for future wealth? for example a son write will for his future parental Inheritance in case, he was died in time of Inheritance movement

 

David Sarokin 

Researcher

 30 Jun 2017 23:23 UTCFri 30 Jun 2017 - 11:23 pm UTC 

mahdi2,

Nice to see you back again.

I don't see any obstacle to writing in future wealth to a will. However, for the sake of clarity, a will usually pinpoints specific assets. For example, I might turn over Bank Account #XXX-XX-XXXX to my mom. The will doesn't have to specify how much is in the account, so whatever has accrued (i.e., my "future wealth") goes to mom. Similarly, I can turn over stock holdings, and if they've increased, then that goes to my beneficiaries as well.

Is that clear? It's a little tricky to put into words.

David

 

mahdi2 

Customer

 30 Jun 2017 23:33 UTCFri 30 Jun 2017 - 11:33 pm UTC 

Is will of a died heir effective?

 

mahdi2 

Customer

 30 Jun 2017 23:44 UTCFri 30 Jun 2017 - 11:44 pm UTC 

died heir=dead before the deceased

 

David Sarokin 

Researcher

 30 Jun 2017 23:51 UTCFri 30 Jun 2017 - 11:51 pm UTC 

A will becomes effective once the person who wrote the will is deceased. I don't think it makes a difference if the death happens before or after some other person. If the will identifies a beneficiary who has already died, then the assets go to the 'next in line' as established either by the provisions of the will or by local estate laws.

Please understand, though, that Uclue is not a legal service. If you need legal advice beyond a general understanding of wills, your best bet would be to seek the services of a lawyer.

Does that get you what you need?

David

 

mahdi2 

Customer

 1 Jul 2017 16:59 UTCSat 1 Jul 2017 - 4:59 pm UTC 

Suppose one of a potential heir is already dead and he has no child himself only a will about all possessions
if he has died before his father. Will he be an heir and his testament effective on this Inheritance?

 

David Sarokin 

Researcher

 1 Jul 2017 17:17 UTCSat 1 Jul 2017 - 5:17 pm UTC 

mahdi2,

A person's will can be constructed pretty much anyway they like. Let's say Mr. A is writing a will and he wants his estate to go to persons X, Y and Z (who can be his children, his friends, his parents, his colleagues...or anyone else he wants to specify).

If the will says: "I want my entire estate to go to X", then that's what will happen, unless X has already died. If the will says "If X dies, then I want my estate to be evenly split between Y and Z" then that will happen. If the will doesn't specify what happens if X should die, then the local laws for inheritance will decide what happens to the estate. These laws are different in different places, but generally pass the estate along to surviving family (wife, children, siblings, and so on).

Hope that helps.

David

 

mahdi2 

Customer

 1 Jul 2017 18:20 UTCSat 1 Jul 2017 - 6:20 pm UTC 

the question is not that
will father assets go to death son estate, too like surviving heirs (if that son had a will  or spouse and childs )

 

David Sarokin 

Researcher

 1 Jul 2017 18:27 UTCSat 1 Jul 2017 - 6:27 pm UTC 

If the will specifies that condition (if my son is deceased, then my estate goes to his children...or his wife...or both...or whatever) then yes, it should be carried out.

This is all very dependent on the exact language in the will, so it's hard to give a more precise answer.

Is that what you needed to know?

David

 

mahdi2 

Customer

 1 Jul 2017 18:42 UTCSat 1 Jul 2017 - 6:42 pm UTC 

there is no father will at all. To clarify my question:
in some countries even if a child dies before the deceased parent, the children of the deceased child shall inherit the part to which that child would have been entitled (apparently its a law for death child only not other forms of Inheritance Beneficiaries)
What about USA?

 

mahdi2 

Cancelled

 1 Jul 2017 20:05 UTCSat 1 Jul 2017 - 8:05 pm UTC 

 

David Sarokin 

Researcher

 2 Jul 2017 04:24 UTCSun 2 Jul 2017 - 4:24 am UTC 

mahdi2,

In the example in your last post, the children of the deceased child would be the grandchildren of the parent(s). Grandchildren do have some rights under estate laws in the USA, but each state has its own set of laws, so there is not a single answer to what (if anything) the grandchildren would inherit. In general, it depends a great deal on who else is a close living relative. For example, if the spouse is still alive when the father dies, in some states, all the assets pass to the spouse and not to the grandchildren.

Many states rely on what is called the Uniform Probate Code, which covers many common circumstances of the type you're describing. Have a look:

http://estate.findlaw.com/planning-an-estate/understanding-intestacy-if-you-die-without-an-estate-plan.html


and let me know if there's anything more you need by way of clarification.

All the best,

David

 

mahdi2 

Customer

 3 Jul 2017 17:46 UTCMon 3 Jul 2017 - 5:46 pm UTC 

the correct answer to my question is "no"
UPC requires all heirs surviving deceased

 

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