Wednesday, February 17, 2010

Olympics - Loss and Lessons


Your original will is required for probate so it must be maintained in a safe place. The three options I share with my clients is (1) a safe at home that is fire proof (2) a safety deposit box (3) my firm's safe. Choose one location and advise your executor.
When Olympic sprinter Florence Griffith Joyner died at 38, in 1998, her husband couldn't find her original will, and failed to file it with the probate court within 30 days of her death, as required by California law. Joyner's husband and mother took disputes, including whether Joyner promised her mother could live in their house the rest of her life, to court. Joyner never filed the original will, and the judge eventually appointed a third party to administer the estate.

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