Do you want to hear a story that sounds too crazy to be true?
Morgan, Pam, and I went to Salem, Massachusetts, Sunday (Halloween) because, well, why not? (that is actually not the crazy, true story )
On one of the house tours we found out the parents had divorced and the mother died with very explicit instructions in her will that her ex-husband (and father of her children) was to receive nothing from the house.
Sound familiar?
Would you be surprised to discover he ended up with part of the house?
Would you be even more surprised to find that he literally sawed off the portion of the house he deemed “his”, relocated it to a different lot, and built the rest of his new house on to the portion he inherited?
How was this possible???
While the ex-wife and mother left very explicit instructions in her will, one of the daughters died not long after and she had no will.
Therefore, her entire estate went to her sole surviving parent- her father.
So, if you think you do not need a will because you have no assets, think again.
Check out the laws where you live and see who would inherit your belongings- including your car, your pets, your sentimental items- if you died intestate (without a will).
Do you want those people to get some of your things?
I remember telling Morgan when she turned 18 that she needed a will or her father could end up with her horse, dog, and/or cat.
Do not assume that relatives you do not get along with or are estranged from will not receive your belongings.
People do weird things, whether through grief or greed.
Protect your assets- and the people you love- by drawing up a will.
Check to see what the protocol is for creating a valid will in the jurisdiction where you live. It could be something as simple as a handwritten note or it may need to be filed at the courthouse.
And, make sure you keep your will up-to-date. Make changes as relationships in your life change. I think we have all heard about that guy who accidentally left his life insurance policy to his ex-wife because he forgot to change the beneficiary.
Do you have a will in place? If not, what is stopping you?