[JD86]

If there is a large family involved, or if there is an inheritance to be split between relatives, by all means put it in an IRREVOCABLE TRUST! Even wonderfully agreeable family members get into fights over who gets what after the funeral. Carve the inheritance in stone, so NOBODY can influence it later. Also, for the sake of an uncertain future, if money is going to children of the deceased, do not allow the money to go to the children's spouses. The Will may not change, but marriages do.

Thanks for a wonderful post. You have covered lots of things that are very important. I would like to comment on this last part. An Irrevocable Trust is good in many instances, but not all. There are other ways to handle the situation, including A-B Trusts like another poster mentioned or Family Limited Partnerships. All of these have good points and bad points and the law is different in each state. I recommend that everyone talk to an attorney in their state....tell the attorney what you want to accomplish...and then let them tell you the best vehicle to use in your state.

Another point is about "in-laws". Unfortunately, you are right that not all marriages last forever. Per stirpes is a wonderful phrase. It means to follow the blood line...so if I leave something to my son and he and I are killed in the same car accident, his part would go to his daughter, not to his wife. Something to think about.