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Friday, July 20, 2007

Lessons from an estate lawsuit

The InvestmentsNews article discusses the estate fight, involving the deceased's third wife, and his relatives and children from prior marriages.

The deceased, Mr. Johnson, had willed his estate to his third wife, Laura Johnson. However, Mr. Johnson's relatives and children from prior marriages alleged that Mr. Johnson's final will was signed under pressure by his third wife. The deceased earlier wills had included his children, however, the last/final will had not.

The court, however, found no such manipulation and awarded the estate to the deceased's third wife, in accordance with his final will.

As per the article, to avoid such situations, people should take certain steps such as the following:

- Create a videotape when signing the will to demonstrate the person was of sound mind and not under anyone's influence

- Letting your children know of your wishes while still alive, and having adult children sign a letter saying that they know of their parent's wishes, even if they don't agree with them

- Adding a clause in the will that gives some inheritence to children but removes it if children contest the will

For complete article, see:

InvestmentsNews: Third wife prevails over adult kids in estate suit

posted by Ruby @ 8:16 AM

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