Legal Question in Wills and Trusts in Texas
In 1977, my dad gift deeded 5 acres to me and my husband to build a house on. The land was valued at $1000 total. Last year, he put in his will that the current value of the land, $23,800, is to be deducted from our share of his estate. Had we known that he was going to do that, we would have insisted on paying $1000 for the land in 1977. The gift deed that my dad signed states "...we do hereby bind ourselves, our heirs, executors and administrators to warrant and forever defend all and singular the said premises unto the said grantees, their heirs and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof." Can my dad legally direct in his will to deduct $23,800 from our share of his estate?
We only use about half the land. We have never used the other half; he has farmed it and gotten income from it for the last 33 years. Could we gift deed the other half back to him? Thank you for your help.
2 Answers from Attorneys
Dad can do (almost) anything he wants to in his will. He is not required to be "fair." You deeding the land back to him wouldn't make any difference.
Agreed..he doesn't have to give anyone anything..and if he does, he can give as little or a much as he wants..
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