Last Will And Testament (Page 2 of 11) in pdf

I further direct that if any beneficiary named in this Will is indebted to me at the time of my death,

and evidence of such indebtedness is provided or made available to my executor, that share of my estate that

I give to any and each such beneficiary be reduced in value by an amount equal to the proven indebtedness of

such beneficiary unless: (i) I have specifically provided in this Will for the forbearance of such debt, or (ii)

Comment [TB4]: This provision (where a

such beneficiary is the sole principal beneficiary.

beneficiary's share is reduced by any amount the

beneficiary owes the testator) appears to be

PRINCIPAL DISTRIBUTION CLAUSE

automatically generated, and could result in

unintended consequences. For example, the user

may factor in an outstanding debt and reduce a

If my spouse, Richard L. Smith, survives me, I give, devise, and bequeath to my spouse all of the

bequest accordingly, and then it would be further

rest, residue, and remainder of my property and estate, real, personal, and mixed, tangible and intangible, of

reduced by this paragraph.

whatever nature and wherever situated, including all property I may acquire or become entitled to after the

execution of this Will, including all lapsed legacies and devises (but excluding any property over which I

may have a power of appointment, it being my intention not to exercise any such power), outright and free of

trust, after payment of all my just debts, expenses, taxes, and specific bequests, if any.

ALTERNATE SPECIFIC BEQUESTS

If my spouse does not survive me, I give, devise, and bequeath to the persons named below, if he or

she, whichever the case may be, survives me, the following items of property:

1. To my daughter, Megan A. Smith,

I give: My Tag Hueur watch.

If said beneficiary does not survive me, this specific bequest will lapse, be added to the residue of my

estate, and be distributed to my remainder beneficiaries as set forth below.

2. To my daughter, Christen L. Smith,

I give: My jewelry.

If said beneficiary does not survive me, this specific bequest will lapse, be added to the residue of my

estate, and be distributed to my remainder beneficiaries as set forth below.

ALTERNATE REMAINDER BENEFICIARIES

If my spouse does not survive me, I give, devise, and bequeath all of the rest, residue, and remainder

of my property to the persons named below, in the percentages set forth below. Unless otherwise indicated in

Comment [TB5]: This appears to be a major

this Will, these shares will be distributed outright and free of trust.

issue. There is no provision for what happens to

each recipient's share if he/she predeceases the

testator. There is a spot in the LegalZoom

Name: Stephen A. Smith Relation: Son

questionnaire for a "Second Alternate Heir," but if it

is not filled in, then it is not clear where the

Percentage: 10%

deceased child's share passes. There is no provision

stating that a deceased child's share passes to his or

Name: Megan A. Smith Relation: Daughter

her children, or even to the other children

proportionately. If the default takers provision in

Percentage: 45%

the next section applies, that may result in

unintended consequences. For example, if Christen

Name: Christen A. Smith Relation: Daughter

marries and has children, Mary would probably

want Christen's 45% to pass to those children if

Percentage: 45%

Christen is not alive. The default takers clause

would instead divide Christen's share equally

DISTRIBUTION IF NO LIVING BENEFICIARIES

between Stephen and Megan. State law may

provide an answer, but the Will is subject to

different constructions on this point.

Page 2 of my Last Will and Testament

___________________

(Signature)

Last Will And Testament Page 2

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