Wednesday, August 10, 2011

I care for an elderly person and he just put me in his will. to have his estate?

A Will is not effective until the person dies. He could write three more Wills and change them around completely. Do not count chickens before hatching. A lawyer would need to review it to advise you. Your jurisdiction may have statutory provisions that preclude exclusion of a spouse from the Will. If he goes before his wife, the court would appoint a guardian for her if she is incapacitated. I would be very surprised if this gentleman's POA for his wife allows him to ign it to a third party. The Will may actually set up a testamentary trust that gives you all the ets to manage for the benefit of his wife. That would be something entirely different. You would be bound as a fiduciary to make sure his wife received all the beneits and that your ability to spend funds would depend on the language of the Will and Probate Court oversight.

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