Full question:
Oldest sibling is not deceased,so can we make a new webb leaving any assts and all assts divided equally among our two adult daughters?
- Category: Wills and Estates
- Date:
- State: Tennessee
Answer:
We are sorry to hear of your loss. When a beneficiary passes away, it creates a lapsed gift. Generally, the bequest to the deceased will be included in the residuary estate and distributed according to the will's residuary clause. If there is no residuary clause, the assets will be distributed according to the laws of descent and distribution. You can draft a codicil to amend a will, but it’s often better to create a new will to avoid potential disputes from having multiple documents.
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