Testatrix, Maedel Sellers, died survived by two children, Johny Ray Sellers and Edna Ray Walker. Edna has
Question:
Testatrix, Maedel Sellers, died survived by two children, Johny Ray Sellers and Edna Ray Walker. Edna has three children: Toby, Eddie and Bobbie, who were all born before the death of testatrix. Johny has one child, Chad, who was born after the death of testatrix. The third and fourth paragraphs of the will provide as follows:
III. I give, devise and bequeath all the rest and residue of my said property and estate, real, personal or mixed, community or separate, wherever situated, of which I may die seized and possessed, to my daughter, Edna Ray Sellers Walker, and my son, Johny Ray Sellers for life, if they both survive me, to have and to hold said residue of my estate as joint tenants during their joint lives; provided, however, if only one of my said children survive me, or if both survive me but one later dies then I give and devise to my surviving child an estate for life in one-half of said residue and to the living issue of my deceased child an estate for life in the other one-half of said residue. Upon the death of the last survivor of my son and daughter or upon my death if neither my son nor my daughter survives me, I give, devise and bequeath all the rest and residue of my estate to the issue of my daughter, Edna Ray Sellers Walker, and my son, Johny Ray Sellers, as joint tenants during the respective lives of said issue and the life of the survivor, or, if only one of such issue survives me, then I give and devise such property and estate to such survivor for life. (Emphasis added.)
IV. Upon the death of the last surviving life tenant heretofore provided for in paragraph THIRD of this Will, I give, devise and bequeath the remainder of my said property and estate in fee simple title to the persons who would be entitled to inherit said property in accordance with the laws of descent and distribution of the State of Texas, if I had died intestate immediately after the death of the last surviving life tenant heretofore provided for in paragraph THIRD of this Will.You are the attorney for the executor. The various parties and their attorneys have different opinions concerning the meaning and validity of the above quoted paragraphs. It will be necessary to bring an action to have the court determine the effect of these clauses. As a necessary part of this action, you must create a memorandum of law setting forth the various possible methods of dealing with the limitation in question, and recommending the one method that, in your opinion, is best.
Q1:
| Let's classify the interests. First, what are the interests of Johnny Ray and Edna Ray? |
Q2:
| Any Rule Against Perpetuities problem up to here? |
Q3:
| Now, paragraph 4 gives a remainder to Maedel's heirs at law measured at the death of the last life tenant. How should this be classified? |
Q4: | Does this present a Rule Against Perpetuities problem? |
Q5: | So, what should be the result? |
Law for Business
ISBN: 978-1259722325
13th edition
Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards