A Cautionary Tale

If you want to see a legal disaster, check out the collateral damage caused by someone who didn’t tend to their estate planning in life. Ok, it’s not always that dramatic. But some recent experiences have shown that it can be truly miserable. Take the case of Henry Jr. That’s not his real name, but his story is.

Henry was an only child and the sole beneficiary of his parents’ sizeable estate. He was not married and had no children. No one really knew he was sick when he passed away six months ago. His numerous cousins realized they hadn’t heard from him in a while. A welfare check was ordered, and the officers found he had passed away.

What has ensued since then is not great. There were legal issues with the death certificate. There was no Will, and therefore no executor. Despite loads of free time, Henry never dealt with his estate. Later it was determined that he never dealt with his parents’ estate either. No one knows where his assets are or how big his estate is. And no one is enjoying the level of detective work required to find out.

The state is now hunting down potential beneficiaries, looking to cousins and second cousins as candidates. It’s not easy. People are rightly skeptical when you call saying they had a distant relative that died, and may be entitled to some money.

And because there were properties in multiple states, there are now jurisdictional issues. We’ll have to stop there because it’s not over yet and I don’t imagine it’s going to be smooth sailing to the finish line.

These cautionary tales exist all over the place. We try to use them to encourage people to prepare, even if done grudgingly, to help their survivors have peace; to offer them one last gift, the smallest administrative burden possible.

Here’s the bottom line: everyone needs an estate plan. If you don’t have, get one. Pronto. Henry was unmarried and childless; he may not have thought it mattered what happened to his assets. Perhaps he didn’t care, though I doubt it given his fondness for his extended family.

That fondness should have been at the center of his legacy. Instead, at least for now, his family is embroiled in several protracted legal issues that could have been avoided. When the dust settles, we hope the family gets back to remembering the man, and not just the mess he left behind.

Henry left many unanswered questions, but at the center of all of it is “why?”. Why did you leave things this way? Did you think you had more time? Were you afraid to talk about it? Why didn’t this matter to you.

The family will never have the answers to those questions. But we suggest that if you see any part of yourself in Henry’s story, summon your courage and call an estate attorney to get started on the process as soon as you can.