Completing the "Family Disaster" Tab (WillPowerWeb)
In WillPowerWeb, you can specify a Family Disaster scenario where the child does not survive the testator or dies before the trust is completely administered, leaving no children of his/her own. To address such a situation, navigate to the Family Disaster tab on the Residue Screen.
You will want to input information on this tab when using the following LDD templates where the residue is to be divided into equal portions among the children of the testator in the event of a family disaster:
Married Couple – Residue to Equally to Adult Children
Married Couple – Residue Equally to Minor Children
Single Person – Residue Equally to Adult Children, or
Single Person – Residue Equally to Minor Children
To correctly input information on the tab, perform the following steps:
For an equal distribution, enter “1” for each beneficiary in the No. Shares or % of Residue to Recipient field.
For an unequal distribution, in the No. Shares or % of Residue to Recipient field, enter the total number of shares for that beneficiary (i.e “2”)
In the To section, to select the beneficiary, click the [...] button and from the drop-down list click the name of the beneficiary. If there is to be a gift over, in the Over To section select the beneficiary to receive the gift over from the drop-down list.
Click the drop-down next to Distribution Type and select the appropriate option (i.e Outright, Shares, Fraction, Percentage, or Amount).
Note: It is recommended that you select Fraction for Distribution Type. LDD clauses and templates are designed based on the selection of Fraction. If you use one of the other Distribution Types, ensure that you either enter your own clause precedent or modify the LDD clauses. It is not recommended that the percentage interest option be used.
Enter the applicable fraction from the drop-down list (click the [...] button to open it), or enter the fraction into the field.
Enter the age at which the children, if minors, are to receive the first fraction of the residue. Enter the age at which the children are to receive subsequent fractions of the residue.
In the Balance at Age field, input the age at which the children are to receive the final distribution of the residue.
Select a Family Disaster clause from the Clause library by clicking the🗦 icon. To select a clause, highlight and click it. The Preview Clause dialog box will open so that you can review the clause to be entered. If correct, click the OK button in the top left corner of the Clause Library.
Note: The LDD templates do not automatically include a Family Disaster clause. Therefore, the Family Disaster clause must be entered in this tab.
Also, note that if a named individual is to recieve the residue outright, do not select a type of Distribution Share from the drop-down list. Distribution types are applicable only if the residue is to be distributed to a trust.
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