An Estate Planner's Guide to Specific Testamentary Gifts

Estate Planning Developments for Texas Professionals 2020

7 Pages Posted: 8 Feb 2021

See all articles by Gerry W. Beyer

Gerry W. Beyer

Texas Tech University School of Law

Date Written: November 1, 2020

Abstract

Clients are excited to make specific gifts in their wills. For some, the goal is to pass treasured family heirlooms and other property with significant emotional attachment to the appropriate family members. Others seek instead to transfer assets of value to family members, friends, and charities so the recipients may keep or, more likely, sell the property to gain funds they desire for their needs.

This article discusses the variety of issues that arise with specific gifts with the aim of making it easier for an estate planner to structure them to effectuate their clients’ intentions.

Keywords: wills, bequests, testamentary gifts, estate planning, devises, collections, ademption, exoneration, lapse, tangible personal property document, financial power of attorney

JEL Classification: K11

Suggested Citation

Beyer, Gerry W., An Estate Planner's Guide to Specific Testamentary Gifts (November 1, 2020). Estate Planning Developments for Texas Professionals 2020, Available at SSRN: https://ssrn.com/abstract=3745370 or http://dx.doi.org/10.2139/ssrn.3745370

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

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