Puff, the Magic Dragon, and the Estate Planner

34 Pages Posted: 22 Jan 2016 Last revised: 27 Jun 2016

See all articles by Gerry W. Beyer

Gerry W. Beyer

Texas Tech University School of Law

Brooke Dacus

California Lutheran University

Date Written: 2016


With the legalization of medical and recreational marijuana in almost half of the states, practitioners need to be aware of interface between marijuana and estate planning. This article provides a discussion of the major issues that arise. After bringing readers up-to-date with the history of legalized marijuana, the article focuses on how marijuana use may impact a user’s capacity to execute a will and other estate planning documents. The article then examines other estate planning concerns such as will and trust provisions conditioning benefits on the non-use of “illegal drugs” and the impact of marijuana use on life insurance policies. The article wraps up with a discussion of how an estate planner may deal with marijuana-based assets when planning an estate and how to value those assets after the owner has died.

Keywords: estate planning, wills, trusts, marijuana, life insurance, testamentary capacity

JEL Classification: K11

Suggested Citation

Beyer, Gerry W. and Dacus, Brooke, Puff, the Magic Dragon, and the Estate Planner (2016). 3 Texas A&M University Journal of Property Law 1 (2016), Available at SSRN: https://ssrn.com/abstract=2719258

Gerry W. Beyer (Contact Author)

Texas Tech University School of Law ( email )

3311 18th Street
Lubbock, TX 79409-0004
United States
806-834-4270 (Phone)
978-285-7941 (Fax)

HOME PAGE: http://www.ProfessorBeyer.com

Brooke Dacus

California Lutheran University ( email )

United States

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