A complex case out of Kansas demonstrates why is so important to name back-up contingent beneficiaries in a Will: stuff happens.
IN RE: the Estate of Larry Franklin Holderman. (2025) | FindLaw
A fellow named Larry — the “testator” / the man who signed the Last Will and Testament – lived with his parents. When he signed his Will in 1999, he had (1) a deceased sister who had a child; (2) a half brother through his mother; and (3) two children, one of whom had children. The Will left the estate to the parents (the “beneficiaries”). The Will expressly disinherited the two children. But the Will did not name any contingent or back-up beneficiaries in case the parents died before Larry.
Well, the parents died in 2007. Larry didn’t change his Will. Larry died in 2022, and that’s when the family started filing their lawsuits because the Will had to be interpreted by a Court. It just wasn’t clear who was legally entitled to inherit the estate. Tens of thousands of dollars was spent on litigation costs.
You can do better than that. Sometimes people name individuals as “ultimate” contingent beneficiaries. Other times, people leave the estate to charity in case the “unthinkable happens” and all named beneficiaries die before the testator. So we do nag our clients to provide these back-ups, because as life speeds by, people don’t always remember to review and update their Wills. It can be hard to make these choices, but it is very important.
Careful planning can prevent a crisis. CALL FOR APPOINTMENT concerning your estate planning …………….. 732-382-6070