| All contingencies must be addressed…read on:
CLIENT QUESTION:
My wife and I have a Will through your office as to what we want to be done if one of us dies. My question is in the unlikely event that we both pass away at the same time, should we make a provision for that now?
MY RESPONSE:
If I prepared your Will, I feel very comfortable saying that if you re-read your Will, you will find that this contingency was covered. Your Will will stipulate what happens if you die together, or survive or predecease your spouse. Every reasonable contingency must be covered because “%&*$” happens. Your Will will most likely also stipulate that if you died simultaneously with your spouse you are deemed to have either predeceased or survived your spouse. Often we go further and say that if you died within 30 days of each other (or another beneficiary) such beneficiary is deemed to have predeceased you. There is no sense in leaving something to someone who is not alive 30 days later.
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