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Form #719

To Protect Child Negotiating for Settlement with Parent

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Memorandum of Agreement to Protect Child Negotiating for Settlement with Parent - free to use

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To protect child negotiating for settlement with parent.

This memorandum of agreement is made and entered into this _________ day of [month], [year], by and between B of _________, party of the first part, and _________, _________, and _________, parties of the second part.

A, the father of all the parties, has recently contracted a marriage, and is at this time married. On account of the marriage all of the parties believe it to be for the best interests of the heirs of A that some steps be taken at this time looking forward to a settlement between A and his [her] lawful issue. The parties of the second part have this day constituted B their sole representative to act for them in an attempt to settle their rights with A. All the parties realize that B in arranging for settlement is apt to incur the displeasure of A.

In consideration of the premises and other valuable consideration it is mutually agreed by and between the parties that in the event that B shall attempt to make a settlement of the rights of the parties with A, and for any reason fail, and by so doing be in any manner or form deprived of his [her] full rights as an heir of A, and shall by doing so be in any manner disinherited by A, then and in that event the parties of the second part agree with B that they and each of them shall contribute to B from any portion of the property or property rights they shall receive from the settlement of the estate of A such property and property rights so that B shall receive an amount equal to that of any of the parties of the second part, share and share alike.

This agreement shall only be in force and effect in the event B shall be under the terms of the last will and testament of A bequeathed an amount less than that received by the parties of the second part and under all other conditions and circumstances, this agreement shall be null and void.



 
Contributed by
Asian Investment Advisers
 
Name of Firm Asian Investment Advisers
Total Forms Contributed 61
 

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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Comments

submitted 11/4/2008
by DavidMarshall  

"Once they have taken root, family disputes are the worst to resolve because emotions always get in the way. Thus, if possible, it is better to try to head them off. Suppose that a parent is remarrying and acquiring new responsibilities. The existing children may think it a good idea to reach agreement about inheritance. If a settlement can be reached early, it avoids later bitterness and possible challenges to the will. But if anything goes wrong, the child who tries to negotiate should always be protected by the others he or she represents, hence this agreement. Hopefully, it will not be needed. But if the parent is sufficiently annoyed by this attempted negotiation and changes the will or writes a new will excluding the offending child from inheritance, the others should rally round and share the pain."
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Keywords: legal forms, family, child, settlement

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