inheritance Archives - Future Wealth Navigator

I recently sat down with People Magazine, Entertainment Tonight, WGN Radio, and ABC Eyewitness News to answer this question: What happens to Nick Reiner’s inheritance? California has a “Slayer Statute” that deprives a murderer of inheriting under a Will or Trust created by their victim. If Nick Reiner is convicted of the crime he has been charged of—two counts of first-degree murder related to the death of his parents, Rob and Michele Reiner—he will be treated as predeceasing both of his parents and cut out of their estate. He’ll also be ineligible to serve as an Executor or Trustee.

What would happen to Nick’s share of the inheritance? Neither Rob’s nor Michele’s estate planning documents are publicly available, but the most likely outcome is that Nick’s siblings will receive his share of the estate. Rob had an adopted daughter (the biological child of his first wife) in addition to the two children (other than Nick) that he shared with Michele, so if Nick is cut out, the estate would likely be divided two or three ways.

Sean R. Weissbart —

Mom and Dad, a lovely couple in their early 50s, meet with me to discuss their estate planning. Mom shares, “our two children—ages 23 and 25—are special and productive. One just graduated law school and the other finishes medical school next spring.” Dad jumps in, “when we die, split all of our asset equally among our kids.”

And so, I ask, “would you like them to receive their inheritance outright or in trust?” Mom answers nicely, but firmly, “like I said, our children are fantastic. We want to give them full access to their inheritance. No interest in tying it up in trusts.” To which I respond, “got it. But just to confirm—are you aware trusts can protect assets from taxes, divorce, and creditors?” Their interest piques. Dad says, “we hadn’t thought of that. Please tell us more.”