The Residuary Estate

The Residuary Estate

The ordinary meaning of the word residue is a leftover part or remnant. In estate planning, residue has a special meaning, referring to the portion of a deceased person’s assets that remain after all debts and taxes have been paid and gifts have been made to...
Not All Conditions for Beneficaries Will Hold Up In Court

Not All Conditions for Beneficaries Will Hold Up In Court

Although parents can be highly creative and detailed in structuring conditional gifts, their freedom to impose terms is limited. In general, courts will not uphold conditions that are illegal, uncertain, unreasonable, impossible, or contrary to public policy. Here are...