A Will Serves Many Purposes

On this hot, 97 degree day in July, I share with you this hot tip.  Really, truly, for the most part, none of us know how we might die.  We know we will die, but not when or how.  So when folks say "I do not need a Will, I have "nothing"," I share this story.

A young man's mother was killed in an automobile accident.  The other driver ran a red light going at a high rate of spend in his deliver vehicle.  He survived with minor injuries and was declared to be at fault.  He was sued by the son for wrongful death of the mother.  The insurer for the driver's fleet of deliver trucks settled the suit for excess of $900,000.  Though the mother had "nothing" her estate now is worth $900,000.  Who gets her assets?  She was estranged from her husband for 17 years (never divorced) and she had 3 children (her son with whom she lived, a daughter with drug issues and another daughter who died leaving her only grandchild).

The intestate law would distribute the estate to the husband, son and daughter.  The grandchild would not be entitled to any of the estate.  Is this the result that would have been intended if a Will was done?

Contact us at www.ythlaw.com for your probate, estate planning and elder law needs.