Friday, July 20, 2012

Testamentary conditions. As conventional or creative as their testators.

Not sure of how to tailor your will? Devises and bequests in wills and other testamentary instruments can be custom-made to the testator’s wishes, regardless of how eccentric and controversial they could be.

A popular one that still shocks many people is leaving thousands of dollars for the care of pets, like the famous designer Alexander McQueen, who left 50,000 pounds for the care of his dogs. But testamentary gifts can be as conventional as “I devise all my property to my children in equal parts” and as creative as “I give my property with the condition that my ashes are put on a space shuttle and released among the stars.” The first I see every day in practice, the latter was the last will of Star Trek creator, Gene Rodenderry.

The fact is that testamentary conditions, or the testator’s dead hand, as some legal experts call them, can be tailored to anyone’s taste. At the end, it is your money; you worked for it; so you should make sure it works to serve your wishes, even the posthumous ones.

For a list of the very controversial wills of seven famous people, including Harry Houdini, Marie Curie, and the ones mentioned above, make sure to check out the following article from 7 Famous People With Controversial Wills.