Is it like, everything goes?
So say someone like your grandma's will says that "everything goes to my granddaughter and no one else." is that possible? Would everything just go to that persons granddaughter?
Also would this person have to be 18 or a certain age to receive everything?
No, no attorney would word a will that way. The person might use those words with their attorney, but their wishes would be expressed in specific terms.
Additionally, no matter what a will says, anyone the estate of the deceased owes money to is paid first. So if the will said 'My granddaughter is to receive all real property (legal term for parcels of land and structures built on them ), and that property had to be sold to pay debt, the granddaughter would not receive the property. She would receive the cash value of what remained after all debts are settled. The same applies to any other assets. If the granddaughter is named to receive the entire estate, the granddaughter will receive everything that is left after debts and legal costs are paid.
Minors generally receive assets in trust, and the will should designate a trustee. Also, the person making the bequest can set any age they choose. It does not have to be 18. I have seen cases where large sums of money were not to be turned over to the named beneficiary until age 35. This is done when the benefactor has good reason to believe that the inheritance might be squandered by a young, immature person.
Yes, it is possible. It wouldn't be worded just that way but a person can name anyone they choose as the beneficiaries of their estate. If the heir is a minor, then an adult trustee must be named to manage the assets.
It is possible if it is written properly. Usually it is set up in a trust if you are under 18
Such phrasing is a damn lawsuit/mess already if there's more than one grand-daugher. use specific NAMES. in any case, examples wills for ANY US state, territory or possession are easy to find on-line. go get one.
