The death of Elizabeth Taylor made a lot of news in March. Apart from the stories that recapped her film career, her eight marriages, and her substantial charity work, there were numerous reports that her family honored an unusual request she made prior to her death. Taylor requested that her funeral start fifteen minutes late. She also asked that someone at the funeral announce that “she even wanted to be late to her own funeral.”
The honoring of Taylor’s wishes is not shocking, but it is a reminder of just how much the law of trusts and estates tries to honor the wishes of the deceased. Laws are designed so that wills and trust agreements are interpreted in a way that carries out the deceased’s wishes. Intestacy law, which dictates who inherits if the deceased person did not leave a will, tries to estimate what the person would have likely wanted.
State laws and courts interpreting Wills also usually honor someone’s wishes, even if they don’t correspond with what most people would want or think is right. For example, a person writing a will can disinherit a child in the United States (but not in some foreign countries). People can also bequest money to controversial charities, as well as condition bequests on the occurrence of certain events. A father may condition his children receiving money on their graduation from college, marriage, or maintaining a steady job.
The law of trusts also respects the intentions of the person who creates a trust (the “settlor”). The settlor may condition distributions of trust principal and income, just as someone writing a will can condition bequests. In Pennsylvania, courts will only authorize changes or terminations of trusts if doing so is consistent with the settlor’s expressed wishes or a change in circumstances happened that the settlor could not anticipate and the modification will further the purpose of the trust. A “spendthrift” trust is another type of trust that can help honor the settlor’s wishes. Beneficiaries of a spendthrift trust may not sell their interest in a spendthrift trust, and creditors of the beneficiary may not reach the funds of a spendthrift trust. The idea is that the settlor wanted the trust assets to go to the beneficiary for a reason, and the law respects that wish.
The law allows for flexibility in wills and trust agreements, and it will usually honor a dead person’s wishes. Clear communication between clients and their estate planning attorneys helps guarantee accurate drafting and eventual carrying out of a client’s intentions.