In light of the current situation, we are offering our clients the opportunity to meet with us virtually, rather than in-person. Please click here to contact us or call 800-756-5596 to schedule your appointment
Our phone lines are currently down, please use 323-391-4162 as an alternative number. Thank you.

Make Informed Decisions
About Your & Your Loved Ones' Futures
Based On Experienced Advice


New Will Won’t Necessarily Override a Contract

| Jan 9, 2018 | Uncategorized |

A decision on assets can’t always be changed.

A recent case concerning a valid contract on assets and the impact of a will was discussed by the Wills, Trusts, & Estates Prof Blog in “Surrogate’s Court Sets Aside Fraudulent Conveyance Violative of Contract to Make a Testamentary Disposition.”

This type of contract is called a contract to make a testamentary disposition, which is legalese for an enforceable promise to leave someone something in a will.

The idea is very simple. If you sign a contract to bequeath a piece of property to someone and the other party to the contract performs his or her duties under the contract, then you cannot change your mind later and rewrite your estate plan to do something different.

While this specific issue does not come up all that often, it is important to understand that contract responsibilities survive your death and supersede your estate plan.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances and could involve a contract obligation for specific assets.