Agreement Waiving Right of Inheritance

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Agreement Waiving Right of Inheritance Powered By Docstoc
					This agreement is executed between two spouses where one spouse can waive the
right of inheritance to the estate of the other spouse. This agreement, as drafted, is for
parties whereby each spouse had a previous marriage and has children by their
previous marriage. It contains both standard clauses as well as opportunities for
customization to ensure that the understandings of the parties are properly set forth.
This short-form template document is useful to married individuals who want their
children by previous marriage to inherit their property.
          AGREEMENT WAIVING RIGHT OF INHERITANCE

THIS AGREEMENT, made effective on __________, [Instruction: Insert date.] by and
between ____________ [Instruction: Insert Husband’s name.] (herein called “Husband”) and
___________ [Instruction: Insert Wife’s name.] (herein called “Wife”).

Background:

Both parties hereto acknowledge and state that they been previously married and have children
by their prior marriages. Husband desires that his children shall inherit his property, and Wife
desires that her children shall inherit her property.

Waiver and Release of Statutory Rights

NOW THEREFORE, in consideration of the parties’ mutual promises and other valuable
consideration, each of them waives any statutory or intestate right or interest that he or she has or
may have, at any time, in any property now owned or subsequently acquired by the other. Each
of the parties releases the other and his or her estate from any and all intestate interest, right, or
distributive share that he or she may otherwise be entitled to on the death of the other, and
waives the right to elect to take against any will or codicil made by the other that may be offered
for or admitted to probate. Both parties further agree not to oppose but to permit the admission to
probate of any will of the other, and to permit the other's estate to be administered by the person
or persons legally entitled to do so as if we were not married.

IN WITNESS WHEREOF, each party has caused it to be executed at ______________
[Instruction: Insert location.] on the date indicated below.

________________
Husband
[Instruction: Husband sign and date above.]

________________[signature and date]
Wife
[Instruction: Wife sign and date above.]

IN WITNESS WHEREOF, we have subscribed our names on the day and year above set forth.

___________________________
Witness
 ___________________________
Witness
[Instruction: Witnesses to sign and date above.]



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DOCUMENT INFO
Description: This agreement is executed between two spouses where one spouse can waive the right of inheritance to the estate of the other spouse. This agreement, as drafted, is for parties whereby each spouse had a previous marriage and has children by their previous marriage. It contains both standard clauses as well as opportunities for customization to ensure that the understandings of the parties are properly set forth. This short-form template document is useful to married individuals who want their children by previous marriage to inherit their property.
This document is also part of a package Estate Planning Starter Kit 20 Documents Included