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Summer123
LIF Toddler
Member since 5/19 436 total posts
Name:
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Grandchildren in wills
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
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Posted 6/25/21 8:37 AM  |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Grandchildren in wills
Last time I spoke with my parents about their wills they named only myself, my brother and sister in the will to have all assets divided equally. They did not make mention of the grandchildren. It's a good point though, I never thought about what would happen should one of us siblings pass away, it would seem right to name the grandchildren. I am not sure that they thought of that.
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| Posted 6/25/21 8:45 AM |
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lmcmcl
LIF Toddler
Member since 2/15 484 total posts
Name:
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Grandchildren in wills
My parents did children first. If one child dies, their children (Grandchildren) will inherit. So my two kids would split my 1/6th share of my parent's estate. (My parents had 6 kids.) Also to note, for children under 18, the money must be put in a trust and managed. They don't get the money until they are 18
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| Posted 6/25/21 9:20 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Grandchildren in wills
Our parents do not have the grandchildren in the wills. Typically wills are written that if one of the children die, their share will be passed to that child's children. This is what happened with my grandfather - my father predeceased him and so my brother and I inherited my father's share.
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| Posted 6/25/21 9:46 AM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Grandchildren in wills
Posted by Hofstra26
Last time I spoke with my parents about their wills they named only myself, my brother and sister in the will to have all assets divided equally. They did not make mention of the grandchildren. It's a good point though, I never thought about what would happen should one of us siblings pass away, it would seem right to name the grandchildren. I am not sure that they thought of that.
I am sure that it is specified in the will if they used a lawyer to prepare the will. It is pretty standard language in all wills.
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| Posted 6/25/21 9:47 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Grandchildren in wills
Posted by lululu
Posted by Hofstra26
Last time I spoke with my parents about their wills they named only myself, my brother and sister in the will to have all assets divided equally. They did not make mention of the grandchildren. It's a good point though, I never thought about what would happen should one of us siblings pass away, it would seem right to name the grandchildren. I am not sure that they thought of that.
I am sure that it is specified in the will if they used a lawyer to prepare the will. It is pretty standard language in all wills.
Yes, it was prepared by lawyers. I'll check with them. Never thought to ask. 
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| Posted 6/25/21 9:49 AM |
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lmcmcl
LIF Toddler
Member since 2/15 484 total posts
Name:
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Re: Grandchildren in wills
Posted by lululu
Posted by Hofstra26
Last time I spoke with my parents about their wills they named only myself, my brother and sister in the will to have all assets divided equally. They did not make mention of the grandchildren. It's a good point though, I never thought about what would happen should one of us siblings pass away, it would seem right to name the grandchildren. I am not sure that they thought of that.
I am sure that it is specified in the will if they used a lawyer to prepare the will. It is pretty standard language in all wills.
Agree- it might be written as "Per Stirpes"
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| Posted 6/25/21 9:49 AM |
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MyBabyG
LIF Adolescent
Member since 1/15 793 total posts
Name:
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Grandchildren in wills
I am am only child. Me and my Dh are in my parents will as so is our DD. I am not sure how they have it set up as on who gets what.
Message edited 6/25/2021 9:50:22 AM.
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| Posted 6/25/21 9:49 AM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Grandchildren in wills
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
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| Posted 6/25/21 10:17 AM |
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Summer123
LIF Toddler
Member since 5/19 436 total posts
Name:
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Re: Grandchildren in wills
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
Say one child passes away and their child(grandchild) in their 20s was irresponsible spending money from dad’s estate on older woman, spending most of it. Grandparent concerned about grandchild just spending all the money at once
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| Posted 6/25/21 11:40 AM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Grandchildren in wills
Posted by Summer123
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
Say one child passes away and their child(grandchild) in their 20s was irresponsible spending money from dad’s estate on older woman, spending most of it. Grandparent concerned about grandchild just spending all the money at once
It would really depend on the language of the will. If the grandparent is still alive, they can amend the will if they have a specific way they want things to happen given the current situation and can address the "what ifs" (or at least any of the "foreseeable" ones)/ But if they have passed already then the will exists as is and not much can be done to challenge it, in most circumstances. The area of law around wills is extremely complex. If this is a current situation, your best bet is to consult with an estate attorney
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| Posted 6/25/21 12:39 PM |
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BAK217
LIF Infant
Member since 8/14 328 total posts
Name:
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Re: Grandchildren in wills
My father’s will originally stated equal shares for myself, my two sisters and my brother. ( Four ways , 25% each)
After we lost my brother and one sister, my father changed his will to include their children,(his grandchildren) and stated that my remaining sister and myself will still get 25% but my deceased sister’s son will get her 25% and my deceased brother’s two boys each get 12 and 1/2 %.
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| Posted 6/25/21 12:43 PM |
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Summer123
LIF Toddler
Member since 5/19 436 total posts
Name:
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Re: Grandchildren in wills
Posted by BAK217
My father’s will originally stated equal shares for myself, my two sisters and my brother. ( Four ways , 25% each)
After we lost my brother and one sister, my father changed his will to include their children,(his grandchildren) and stated that my remaining sister and myself will still get 25% but my deceased sister’s son will get her 25% and my deceased brother’s two boys each get 12 and 1/2 %.
This is very similar situation. Everything is being rewritten. Just concerns of the grandchild getting large amount of money at once. He went through money of dad’s estate very quickly and not responsibly
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| Posted 6/25/21 12:55 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Grandchildren in wills
Posted by Summer123
Posted by BAK217
My father’s will originally stated equal shares for myself, my two sisters and my brother. ( Four ways , 25% each)
After we lost my brother and one sister, my father changed his will to include their children,(his grandchildren) and stated that my remaining sister and myself will still get 25% but my deceased sister’s son will get her 25% and my deceased brother’s two boys each get 12 and 1/2 %.
This is very similar situation. Everything is being rewritten. Just concerns of the grandchild getting large amount of money at once. He went through money of dad’s estate very quickly and not responsibly
They can arrange for a trust or other method of distributing the money to that person, if they wish to do so
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| Posted 6/25/21 1:37 PM |
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BAK217
LIF Infant
Member since 8/14 328 total posts
Name:
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Re: Grandchildren in wills
Posted by chilltocam
Posted by Summer123
Posted by BAK217
My father’s will originally stated equal shares for myself, my two sisters and my brother. ( Four ways , 25% each)
After we lost my brother and one sister, my father changed his will to include their children,(his grandchildren) and stated that my remaining sister and myself will still get 25% but my deceased sister’s son will get her 25% and my deceased brother’s two boys each get 12 and 1/2 %.
This is very similar situation. Everything is being rewritten. Just concerns of the grandchild getting large amount of money at once. He went through money of dad’s estate very quickly and not responsibly
They can arrange for a trust or other method of distributing the money to that person, if they wish to do so
.
I believe it can be stipulated in the will that the money can be released to the grandson in specific increments (percentages) and only when the grandchild reaches certain ages (18,21,25,30 etc.)
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| Posted 6/25/21 2:15 PM |
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blu6385
Member since 5/08 8351 total posts
Name:
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Re: Grandchildren in wills
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
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| Posted 6/25/21 4:43 PM |
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BAK217
LIF Infant
Member since 8/14 328 total posts
Name:
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Re: Grandchildren in wills
Posted by blu6385
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
It might be a difficult conversation but, ask your parents.
If it’s only you, I think you should be made aware of your parent’s final wishes.
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| Posted 6/25/21 5:52 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Grandchildren in wills
Theres a clause that if I die it goes to my kids
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| Posted 6/25/21 6:47 PM |
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RainyDay
LIF Adult
Member since 6/15 3990 total posts
Name:
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Re: Grandchildren in wills
Posted by blu6385
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
Why not just ask your parents?
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| Posted 6/25/21 7:11 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: Grandchildren in wills
https://en.wikipedia.org/wiki/Per_stirpes this may help you understand what is written. If your parents have passed then you would need to go by exactly what is written in the will. If they are alive, this is a discussion for them with their attorney. You would not be a client of the attorney nor should you be in the room with them and the attorney.
Personally, I am of the mindset that all people at each generation are treated identically. If a child predeceased their parent, then I feel their share should go to their children (the grandchildren). Sometimes. Grandparents will leave specific bequests for a certain dollar amount to grandchildren. They can also decide to create a trust or establish dates when the money should belong to the child or grandchildren. Depending upon the amount, I.e under $50,000 people leave it outright. Once it gets into the $100k and especially at a million or more they choose to go with a trust or even a generation skipping trust.
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| Posted 6/25/21 11:03 PM |
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blu6385
Member since 5/08 8351 total posts
Name:
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Re: Grandchildren in wills
Posted by RainyDay
Posted by blu6385
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
Why not just ask your parents?
Cause they aren’t even sure. I have a copy of the will. I will reread it but I don’t think it mentions specifically it goes to anyone but me and my brother.
I will honor their wishes just wondering legally what the rule is.
If it doesn’t specifically say it goes to his children then it goes all to me or does by default it goes to his kids.
Posted by BAK217
It might be a difficult conversation but, ask your parents.
If it’s only you, I think you should be made aware of your parent’s final wishes.
We have this conversation all the time. In jest and seriousness. I know what their final wish is as of now just wanted to to know legally what I am required to do.
Message edited 6/25/2021 11:32:47 PM.
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| Posted 6/25/21 11:30 PM |
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Summer123
LIF Toddler
Member since 5/19 436 total posts
Name:
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Re: Grandchildren in wills
Posted by blu6385
Posted by RainyDay
Posted by blu6385
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
Why not just ask your parents?
Cause they aren’t even sure. I have a copy of the will. I will reread it but I don’t think it mentions specifically it goes to anyone but me and my brother.
I will honor their wishes just wondering legally what the rule is.
If it doesn’t specifically say it goes to his children then it goes all to me or does by default it goes to his kids.
Posted by BAK217
It might be a difficult conversation but, ask your parents.
If it’s only you, I think you should be made aware of your parent’s final wishes.
We have this conversation all the time. In jest and seriousness. I know what their final wish is as of now just wanted to to know legally what I am required to do.
It is somehow written in will. If the term per stirpes, as someone posted above, is written, then it includes the grandchildren in place of parent.
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| Posted 6/26/21 4:42 AM |
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Summer123
LIF Toddler
Member since 5/19 436 total posts
Name:
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Re: Grandchildren in wills
Posted by BAK217
Posted by chilltocam
Posted by Summer123
Posted by BAK217
My father’s will originally stated equal shares for myself, my two sisters and my brother. ( Four ways , 25% each)
After we lost my brother and one sister, my father changed his will to include their children,(his grandchildren) and stated that my remaining sister and myself will still get 25% but my deceased sister’s son will get her 25% and my deceased brother’s two boys each get 12 and 1/2 %.
This is very similar situation. Everything is being rewritten. Just concerns of the grandchild getting large amount of money at once. He went through money of dad’s estate very quickly and not responsibly
They can arrange for a trust or other method of distributing the money to that person, if they wish to do so
.
I believe it can be stipulated in the will that the money can be released to the grandson in specific increments (percentages) and only when the grandchild reaches certain ages (18,21,25,30 etc.)
The problem is he is older mid 20s.
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| Posted 6/26/21 4:44 AM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Grandchildren in wills
Posted by blu6385
Posted by RainyDay
Posted by blu6385
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
Why not just ask your parents?
Cause they aren’t even sure. I have a copy of the will. I will reread it but I don’t think it mentions specifically it goes to anyone but me and my brother.
I will honor their wishes just wondering legally what the rule is.
If it doesn’t specifically say it goes to his children then it goes all to me or does by default it goes to his kids.
Posted by BAK217
It might be a difficult conversation but, ask your parents.
If it’s only you, I think you should be made aware of your parent’s final wishes.
We have this conversation all the time. In jest and seriousness. I know what their final wish is as of now just wanted to to know legally what I am required to do.
I think you and your parents need to go back to the attorney just to avoid any legal headaches if they want money going to his kids. I'm sorry about your brother
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| Posted 6/26/21 6:48 AM |
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BAK217
LIF Infant
Member since 8/14 328 total posts
Name:
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Re: Grandchildren in wills
Posted by Mrs213
Posted by blu6385
Posted by RainyDay
Posted by blu6385
Posted by chilltocam
Posted by Summer123
Do any of your parents that have wills include grandchildren?I am wondering also if one child dies, does the grandchild take their place in inheriting.
It depends on how the will is written. It can specify that if one child dies, that child's share is divided equally among the remaining children, or it can specify that the deceased child's share goes to his/her offspring. It's up to your parents to decide what they want to happen in the even one of their children passes away
How can I tell this? My parents had thier written before my brother passed away. It’s only me now how do o know if I have to split any assets with his kids or not.
To answer the OP question my parents at first were going to name grandchildren but decided against when I said are you going to keep changing when you have more.
Also they can write in will that money has to be put in a trust and can’t get it till a certain age I less the trustee agrees to it earlier. My uncle did this for his grandchildren
Why not just ask your parents?
Cause they aren’t even sure. I have a copy of the will. I will reread it but I don’t think it mentions specifically it goes to anyone but me and my brother.
I will honor their wishes just wondering legally what the rule is.
If it doesn’t specifically say it goes to his children then it goes all to me or does by default it goes to his kids.
Posted by BAK217
It might be a difficult conversation but, ask your parents.
If it’s only you, I think you should be made aware of your parent’s final wishes.
We have this conversation all the time. In jest and seriousness. I know what their final wish is as of now just wanted to to know legally what I am required to do.
I think you and your parents need to go back to the attorney just to avoid any legal headaches if they want money going to his kids. I'm sorry about your brother
I agree, a meeting with your parent’s attorney should help put things in perspective.
Things have changed in your family since your parents first made a will. They should have the will updated. ( I just read a previous post and saw that the will is being updated.)
(I could recommend the attorney my husband and I used when we updated our will if you’d like.)
And I don’t believe that your nephew’s age (mid twenties) would prohibit your parents from making provisions to safe guard his inheritance.
In any case…..the attorney should be able to answer all questions.
Message edited 6/26/2021 8:38:56 AM.
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| Posted 6/26/21 8:35 AM |
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