Specific Distributions for Gift-Overs

Specific Distributions for Gift-Overs


Who should receive the gift if your beneficiary is not alive?  Obviously, the question of a Gift-Over is a fundamental one.   


e-State Planner has always offered “Gift-Over” options for every absolute and trust gift. Now, you can now create customized gift overs for any gift.  We still have the most common gift-overs available - “Beneficiary’s Issue”, “Client’s Issue”, “Other Class Members/Beneficiaries” etc..  But now, you can create bespoke Gift-Overs to anyone - people, charities or classes. Just select “Specific Distribution” and go to town! 


You can have a number of gift-overs in different orders. For example, first to a predeceased beneficiary’s issue (“Beneficiary’s Issue”), if they don’t have issue, then to the other class members (“Other Class Members”), then if there are no other members of that class alive, to some other person or charity (“Specific Distribution”). You can rearrange the order of gift overs by dragging the 6 dots up or down using the icon to the right of the gift-over option. (ADD GIF)


e-State Planner is built so that certain gift-overs are automatically contemplated.  For example, in the Surviving Spouse Scenario, if the entire residue is going to the spouse absolutely, no gift-over is necessary. In that case, your gift-over for the Surviving Spouse scenario (who should receive the estate if the spouse is not alive) will automatically be covered in the Descendants Only Scenario.  Similarly, gift-overs in the event that all descendants (children, grandchildren etc) are all gone are covered automatically in the No Descendants scenario.


Therefore, “Specific Distribution” gift-overs will be most frequently used in the “No Descendants” Scenario.  Here’s an example, “I want to leave 50% to my parents and if they are not alive to my siblings and if any of them are not alive to that predeceased sibling’s issue.”  The original gift would be the parents, then to Other Class Members (i.e. the other parent if one parent predeceased) and then a gift-over -Specific Distribution-  to Siblings, with a gift-over in that gift to “Beneficiary’s Issue”.  


While we have tried to test as many different gift-overs that we can think of, the possibilities are endless. Therefore, we welcome any comments or suggestions if something doesn’t look quite right.


We will have a webinar on these new features very soon.  In the meantime, if you have questions about them, feel free to reach out to us by email at support@e-stateplanner.com or using the Chat function in the bottom right corner of the helpdesk. 


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