Idaho Law Blog
By Lane V. Erickson, Attorney
The purpose of creating a Last Will and Testament is so you can give your property away to those you choose. But the question comes up sometimes about what happens if a gift that is given in a Last Will and Testament no longer exists when the giver of the gift dies. When this happens then the gift fails because it no longer exists. The key is contained in the language used in the Last Will and Testament. The few examples will help illustrate this.
Suppose for a moment that you create your Last Will and Testament. In doing so you provide a specific gift in your Last Will and Testament of your Range Rover car to your son. Now let’s suppose that you’re actually driving the Range Rover vehicle, you get into an accident which destroys the Range Rover and which leads to your death. In this instance your gift to your son specifically is your Range Rover car. Because your Range Rover car was destroyed in the accident that took your life, there is no Range Rover car remaining to be given to your son as a gift. In this example the gift of your Range Rover car to your son fails.
Now let’s change the facts a little bit. Suppose now that rather than saying your son will receive your Range Rover car that you simply state in your Last Will and Testament that your son will receive your car. Again, supposing that the Range Rover car is destroyed in the accident that takes your life. But let’s add one more fact. Let’s suppose that in addition to a Range Rover car you also own a Porsche. In this instance when you die you are still the owner of a car. Due to the more generic gift that you set forth in your Last Will and Testament your son will now receive your Porche as a gift.
The difference between these two examples is the language used in the Last Will and Testament. In the first example a specific gift of the Range Rover is given to your son. However, in the second example you use the more generic term of “car” rather than naming a specific vehicle. Because you had a car at the time that you died in the second example your son would receive a car as a gift.
These examples illustrate the importance of 2 specific things when it comes to your estate planning. The first is that you actually have your estate planning completed. This allows you to give gifts to the individuals you choose. Second, these examples illustrate the importance of using the right words in your will to accomplish what you actually want. Even though the examples above may seem the same, the words used are different and the results are different.
If you have any questions about giving specific gifts to your children or to others, we can help. Call us toll free at 877-232-6101 or 208-232-6101 for a consultation with Lane Erickson and the Racine Olson team of Estate Planning attorneys in Idaho. You can also email Lane Erickson directly at lve@racinelaw.net. We will answer your Idaho Estate Planning questions and will help you solve your Idaho Estate Planning problems.
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