What is Common disaster clause?

Answer 1

A Common Disaster Clause is a provision often included in estate planning documents, such as wills and trusts, that addresses the situation where two or more parties (typically spouses) die in a common event, such as an accident. This clause specifies how the assets will be distributed if the parties die simultaneously or under circumstances that make it unclear who died first. Its purpose is to prevent disputes and ensure that the wishes of the deceased are honored, particularly regarding inheritance and beneficiary designations. By clarifying the distribution of assets, it helps avoid complications in the administration of the estate.