Legal Question in Wills and Trusts in Maryland
Estate will: I have set up some of my accounts with beneficiaries.
In my will, it states "all of the rest, residue, and remainder of my estate" goes into a Trust for my children.
I think that means whatever has NOT been named with a beneficiary. Correct ?
I don't think that means the accts with a beneficiary goes into the Trust. Correct ?
Thank you, carol
2 Answers from Attorneys
You are correct. The residuary is what is left after specific bequests have been made. Bequests previously made to individuals would not be included in the residuary.
Charles R. Stewart
Law Office of Charles R. Stewart, LLC
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Hagerstown, MD 21740
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www.LawOfficeStewart.com
Beneficiary designations may not be effective for a variety of reasons. It is possible that such a designation can result in funds being contested without representation from the estate.
Your question focuses on the remainderman clause that is required for a Last Will and Testament to be accepted into probate. Even though such a clause is properly drafted it may not address the need to resolve matters pertaining to directed beneficiary transfers.
After life planning requires an attorney who prepares for representation after your death.
Contact me for your advanced planning needs.
410.750.2567
Reasonable fees for comprehenisive service.
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