When planning an estate, a person may consider many different provisions that can be a part of a Last Will. Of course, many of the Will terms concern the disposition of assets and bequests to various beneficiaries. A Will may contain a bequest of an amount of money or a devise of a specifically identified parcel of real property.
There are parts of a Will that contain a residuary clause and also the nomination of executors or trustees. Some provisions also are inserted to create a testamentary trust or provide for the appointment of a guardian for a minor.
New York estate lawyers are also familiar with “No Contest” clauses which are also known as “In Terrorem“ clauses. These types of clauses are discussed in Estates, Powers and Trusts Law section 3-3.5 which is entitled “Conditions qualifying dispositions; conditions against contest; limitations thereon”. The effect of this clause is that if a person engages in certain actions like a Will contest, he loses the right to receive any bequest under the Will.