What does the “age requirement” paragraph mean?
The Wills/Trusts drafted by our office often include contingent beneficiaries. For instance, if you leave everything to your son and provide that if your son fails to survive you, his share goes to his children, his children are your contingent beneficiaries. In that situation, clients usually do not want their minor grandchildren to receive their assets outright on their 18th birthday. Rather than using a formal Trust for something that may never occur, we typically put an age requirement paragraph which would specify that if any beneficiary of the Will/Trust is under a certain age, his or her share would be held in Trust until he or she attains the specified age.
