If any specifically-mentioned assets are disposed of (sold, given away or lost) by the decedent while the decedent was still alive, those assets would no longer be considered part of the estate, regardless of what the Will might say.
Last Will and Testament Questions
Answers to Frequently Asked Last Will and Testament Questions
If My Father Remarried and Had Other Children, What Share of His House is Mine When He Dies?
The distribution of assets in a Last Will and Testament do not follow a required formula as to ‘who must get what’.
Must the Executor I Name in My Last Will and Testament Reside in the Same State as I?
There is no legal restriction on the home town or state of residence for a named Executor. But a suggestion: ‘convenience and ease of availability’ should be considered in naming your Will’s Executor…
If a Husband Gives Money to Charity in His Will, Must a Wife Honor the Bequest if She Outlives Him?
To answer this question properly, the specifics of how a couple’s property is titled and the exact content of the language of the Last Will and Testament is crucial.
If a Beneficiary is to Receive a Sizeable Asset in a Will But That Asset is Sold Before the Maker’s Death, Does That Beneficiary Receive a Share of the Remainder of the Estate?
How specifically-named assets of a Last Will and Testament are treated if they are sold prior to the death of the Maker vs. the remainder of the assets of that same estate depends upon the exact language contained within the Will document.
Is a 15-Year-Old Last Will and Testament Listing Assets No Longer a Part of the Estate Still Valid?
A Last Will & Testament does not need to list specific assets correctly to be valid, nor does the age of the Will have much to do with its authenticity or validity.
If a Will Covers Only a Few Assets and Beneficiaries, Must the Estate Go Through Probate?
The need send a Last Will and Testament through the Probate Court process depends upon the type of assets gifted within the document, and the “personalities” of the named beneficiaries.
Can My Father Not Name His Adult Children in His Will, and if He Leaves Everything to His New Wife Must She Share with the Father’s Children?
No USA state prohibits excluding children in a Last Will and Testament.
As Sole Beneficiary Must I Divide My Parent’s Life Insurance Policy With My Siblings if it is Not Mentioned in Their Will?
Life insurance proceeds pass outside of probate; generally they are not considered assets of the decedent’s estate.
As such, and depending on all of the language contained in the Last Will & Testament, the insurance proceeds can be retained by the person named as the beneficiary of the policy without the legal requirement of being divided among a Will’s beneficiaries.
But there is one concern to review.
Can I Will the Home I Own Individually to the Children from My First Marriage if My Current Husband Agrees?
For such an situation, you can use Standard Legal’s Last Will and Testament document with the “Specific Gifting Provisions” to specify exactly who receives what assets when you die.
However, as discussed in the instructions provided within the Will legal forms software, be aware that in many states a spouse can choose to “elect against the Will” if a certain percentage of the deceased spouses’ estate is not bequeathed to the surviving spouse (the percentages typically range from 30% to 50% of the estate).