Understanding the After-Born Child: Legal Rights and Estate Implications
Definition & Meaning
An after-born child refers to a child who is born after a parent has executed a will or after a class gift has closed. The presence of an after-born child can significantly impact the distribution of assets in a will or trust. While the will does not become invalid due to the birth of this child, its terms may be adjusted to ensure the after-born child receives a fair share of the parent's estate, similar to what they would have received if the parent had died without a will.
Legal Use & context
This term is primarily used in the context of estate planning and probate law. It affects how assets are distributed among beneficiaries when a parent passes away. Understanding the implications of having an after-born child is crucial for individuals creating wills or trusts, as it ensures that all children are considered in the estate distribution process. Users can manage their estate planning needs using legal templates available through US Legal Forms, which are drafted by qualified attorneys.
Real-world examples
Here are a couple of examples of abatement:
Example 1: A father creates a will leaving his estate to his two children. After the will is executed, he has another child. Upon his death, the after-born child is entitled to a share of the estate, which may require the existing beneficiaries to adjust their shares.
Example 2: A mother establishes a trust for her children. If she has another child after the trust is established, that child may also be entitled to benefits from the trust, depending on the trust's terms (hypothetical example).