At 78, tom was staying with his last born son, and as days went by, he became more and more concerned with who will take over his assets. He had a handwritten will well hidden in the attic, and no one knew of the ranch he had bought a few years ago. He was debating whether to tell the son or not when he suffered a stroke and died. The will was never found.
This is a typical scenario for many seniors. We have seen cases whereby seniors have died without a will, or no one could find the will that they allegedly wrote when they were alive.
This leads to many protracted court battles over the property because there is no straight guideline to decide on who gets what and in which measures.
When you are in your sunset years, you need to realize that when you pass away, your family will remain behind and will need your assistance. You need to give a directive regarding how the process should be handled. Otherwise, you will leave behind a family that won’t stick together just because of you failed to come up with an estate plan.
To this end, you need to talk to an estate planning lawyer to make sure you follow the right procedure in coming up with an estate plan.