Changes in tax laws reduce need for creation of trusts
It is very common for wills to be over-drafted. But it’s not necessarily the case that the documents have provisions that are redundant, conflicting or obsolete.
Q: You've written about "under-drafted" wills (for example, from templates found on the internet) that omit crucial provisions. Can a will be "over-drafted" and contain redundant language, conflicting or obsolete provisions, as well as unnecessary provisions? How common is this, and how might laymen determine it?
A: It is very common for wills to be over-drafted. But it’s not necessarily the case that the documents have provisions that are redundant, conflicting or obsolete.
Instead, the problem is often that the wills were written years ago when the exemption from the estate tax was much lower than it is today. Back then, it was common for any married couple........
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