Knowledge Center

Last Will Glossary

debt provisions

A provision in a last will that allows you to list amounts owed to you by any beneficiaries and have them deducted from any gift that you give them. For example, if a beneficiary owes you $100 and you leave to him or her $300, then $100 is distributed to your other beneficiaries of your estate according to your will, and $200 will go to the beneficiary.

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