You Slay Me!

            You may hear an audience member exclaim: “You slay me!” at a comedy show.  In Estate Planning, we view that concept differently, and quite literally.  We include the Slayer Rule in Living Trusts and Wills.

            The Slayer Rule directs that in the event your demise is the result of having been slain by one who stands to inherit any part of your estate, then the slayer shall receive nothing.  In fact, the slayer will be deemed to have predeceased you and therefore cannot collect anything.  We can include provisions that the slayer is further deemed to have died without issue which means that any inheritance which otherwise would pass to the slayer’s children will not be gifted to them.

Why do you need a Slayer Rule in your Estate Plan?  The Slayer Rule operates as part of the numerous protections of the integrity of your Estate Plan while functioning as a disincentive to others to cause you harm.  For example, in addition to the Slayer Rule, Living Trusts and Wills should contain Contest Provisions precluding recovery by anyone who challenges distributions and the substance of your Estate Plan.  Additional guidance may be included in a Statement of Intent.

I tell clients I operate in the world of “what ifs”.  A Slayer Rule serves a critical  purpose and “what if” some day it may be needed.  When I explain this provision to married clients, I am sometimes met with a little levity with one spouse telling the other to think twice before placing a pillow over the head of the other spouse.  At least I hope it is levity.

            Estate Planning Attorney Michael Geiger can assist with Slayers and others who could challenge your Estate Plan.  Reach out for Michael at (901) 219-5549 or at michael@geigerattorney.com for all your Estate Planning needs.