How to Word a Clause Leaving Assets to Adult Children Exclusively?

Question from c, How to Word a Clause Leaving Assets to Adult Children Exclusively?

Answer from AI:

When drafting a will or trust, it’s important to be clear about your intentions, especially if you want to ensure that specified assets are left exclusively to your adult children and not their spouses. Below is a general guide on how to word such a clause, along with some important considerations.

Sample Clause Wording

To ensure that specified assets are left to your adult children exclusively, you might use wording similar to the following:

“I give, devise, and bequeath [specific asset(s)] to my [son/daughter/children], [Name(s)], to be theirs exclusively and not to be considered marital property or subject to any claims by their spouses.”

Key Considerations

When drafting this clause, consider the following points:

• Clarity: Be explicit about which assets are being left to your children and that these assets are not to be shared with their spouses.
• Legal Terminology: Use clear legal terms such as “devise” (for real property) and “bequeath” (for personal property) to specify the type of asset.
• Jurisdiction: Ensure that the wording complies with the laws of your state. Different states may have varying requirements for wills and trusts.

Legal Framework

In the United States, the laws governing wills and trusts can vary by state. However, some general principles apply:

1. Testamentary Freedom: Generally, you have the right to distribute your assets as you see fit, including specifying that certain assets go exclusively to your children.
2. Marital Property Laws: Be aware of state laws regarding marital property, which might affect how assets are treated after your death.
3. Trusts: Consider using a trust to provide additional control over how and when your children receive the assets, and to protect these assets from being considered marital property.

When to Seek Legal Advice

While you can draft a will or trust on your own, it is often advisable to consult with a legal professional to ensure that your documents are legally sound and reflect your wishes accurately. A lawyer can help you:

• Ensure compliance with state laws.
• Use precise language to avoid ambiguity.
• Consider potential tax implications.
• Address any other legal concerns you might have.

Resources

For more information, you can refer to the following resources:

• American Bar Association – Estate Planning Resources
• Nolo – Wills and Trusts

Remember, while this guide provides a general overview, it is not a substitute for professional legal advice. Always consult with a qualified attorney to ensure your estate planning documents meet your specific needs and comply with applicable laws.