WHERE THERE IS A WILL THERE IS A SOMEDAY
Oh what a fun day Mrs. C and I had today. We visited my lawyer and made some changes to our Wills. There is nothing like starting out your day contemplating your death.
Mrs. C’s main complication was her house, which I currently occupy with her. Her wish is if that if she checks out before I do, the house would go to her children, but I could stay there as long as I wished.
My issue was if I check out first, my wish is for Mrs. C to get the money from my retirement account where she would use the interest for her expenses and leave the principle to my children when she departs. It turns out there are problems with a will guaranteeing either of our requests.
It is difficult to give the house to Mrs. C’s children and guarantee they would not kick me out and sell it. There is no way to guarantee that Mrs. C would use only the interest of an account or that she would not change a Will and leave that account to her children.
The solution is something my lawyer claims is a first. Both Wills contain a clause which has never been tested in Estate Law. We developed a “Karma Clause.”
This clause makes it clear to all parties what were the wishes of the deceased. The clause states that if anyone acts against those expressed wishes they will suffer bad Karma!
Is this clause enforceable?
Do you really want to find out?