MT Lawyers - question about a will | TigerDroppings.com

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Captain Want
LSU Fan
Member since Nov 2009
1530 posts

MT Lawyers - question about a will



Can you put instructions in a will that dictate how property can be used after death, or whether it can be sold for a certain price at some point after death and to whom?

Probably a loaded question, but I'll throw it out there. (Also posted on OT.)

TIA.







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Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
9404 posts

re: MT Lawyers - question about a will


No

If you give something to someone, you can not tell them what they can or can not do with it






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Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
6355 posts

re: MT Lawyers - question about a will


I feel like I remember some limitations that can be placed for a finite number of years, but I can't for the life of me remember what they are. Requiring several heirs to keep property as a whole for a decade or so is jumping out at me.


This post was edited on 5/16 at 10:52 pm


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fishfighter
LSU Fan
Baton Rouge
Member since Apr 2008
19915 posts

re: MT Lawyers - question about a will


quote:

Can you put instructions in a will that dictate how property can be used after death, or whether it can be sold for a certain price at some point after death and to whom?


Yes, but it is limited. For my family, in the will, about selling property. We were able to set it up so that one of the other family members/land owners had first dibs of buying out other land owners at fair market value if any of the land owners wanted out. I bought out a couple of my family members.






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GaryMyMan
USA Fan
Lower Garden District
Member since May 2007
10888 posts

re: MT Lawyers - question about a will


1) Consult an estate lawyer licensed to practice in your state.

2) You can probably put the property in a trust and stipulate how it is to be divested or kept long after your death. But for the love of God: make sure the trust agreement is specific. I'm dealing with one written in 1937 that has some loose ends and it's gone to courts all over Texas because the two surviving beneficiaries can't agree what the intent was.



This post was edited on 5/17 at 8:05 am


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Motorboat
LSU Fan
At the camp
Member since Oct 2007
11182 posts

re: MT Lawyers - question about a will


quote:

Can you put instructions in a will that dictate how property can be used after death


I don't do estate law, but I recall a professor telling me that "you cannot rule from the grave" and you cannot tell a legatee what to do with property once it divests to him/her. YMMV upon consultation with an estate attorney.






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TigerDeacon
Wake Forest Fan
West Monroe, LA
Member since Sep 2003
24815 posts

re: MT Lawyers - question about a will


quote:

you cannot tell a legatee what to do with property once it divests to him/her


This is incorrect.

To the OP: A lot depends on your state of residence and/or the state in which the property is located. Consult an attorney in your area.






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Newbomb Turk
Navy Fan
perfectanschlagen
Member since May 2008
9961 posts

re: MT Lawyers - question about a will




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TigerDeacon
Wake Forest Fan
West Monroe, LA
Member since Sep 2003
24815 posts

re: MT Lawyers - question about a will


quote:

The old "Rule Against Perpetuties" ....


Not the same thing.






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