Hartford estate planning attorneys have seen the mistakes that people make and this is why they are so adamant about recommending action. Because it is natural to assume that you won’t be dying any time soon procrastination with regard to estate planning is common. However, when you don’t plan ahead you are putting your family at risk because you never know when your time is going to come.
To provide an example of what can happen when you don’t have an estate plan, Martin Luther King Jr. died without a will or any other type of estate planning documents. After his wife passed away there was acrimony among his children with regard to the management of the Martin Luther King Jr. Estate Corporation. Dexter King was accused by his siblings of mismanagement, and a court battle loomed before the parties involved were able to reach an agreement back in 2009.
At the current time the Martin Luther King Jr. estate is involved in a new round of litigation. Maude Williams Ballou, who is now 86 years of age, did administrative work for Dr. King in the 1950s. According to reports he was a close friend of Ballou’s parents. In the course of working with King she came into possession of some of his papers, and she says that he told her that she could keep them.
The Martin Luther King Jr. Estate Corporation is suing the octogenarian, claiming that the documents are actually the property of the estate.
Clearly, planning is key if you want to avoid difficulties among those that you care about down the road. If you do not currently have an estate plan in place, take action right now and arrange for a consultation with an experienced Hartford estate planning lawyer.
- Can I Leave an Inheritance With Strings Attached? - February 2, 2023
- Are These Items Missing From Your Estate Plan? - January 17, 2023
- Advance Property Liquidation Can Streamline the Estate Administration Process - January 3, 2023