Legal Question in Wills and Trusts in Maryland
Can I change my will to so that gifts I have given out to my children over the past year will now be deducted from what they inherit? Some of my children have received larger gifts than the others and I would like to even the playing field, so to speak.
2 Answers from Attorneys
Yes you can lower each child's distributive share in your WILL. This needs to be done carefully to insure equal treatment which is especially important if there are not enough funds on hand to make all distributions.
You should return to the attorney who wrote the will to ensure that the will is changed correctly. Also, you should make sure that you place a definite value on those gifts. In addition, be careful that if you dispose of certain gifts in your will, you don't gift those away after the modification.
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