Why You Should Prepare For The Unexpected
The recent deaths of actress Anne Heche and Her Majesty Queen Elizabeth II made landmark news, not only because of the tragedy of their passings but also due to their very different estate plans.
The queen had one of the most complex estates, allowing for a seamless transition for the royal family. However, the actress, Anne Heche, did not have a Will in place and as a result, left her 20-year-old son in a mess. You can read more about Anne Heche’s situation by reading our news article here. It’s situations like these that remind us why estate planning is essential and what the consequences are if you avoid it.
The difference between The Queen and Anne Heche's plan
The difference between Queen Elizabeth II and Anne Heche was that the queen had prepared for her death years in advance. She created an estate plan that passed down all of her assets to the heirs of her choice, leaving no issues for her family. She even had a plan in place for her dogs, who would be cared for by the Duke and Duchess of York, Prince Andrew, and his ex-wife Sarah Ferguson. According to the Washington Post, Elizabeth left behind two Pembroke Welsh corgis, a corgi-dachshund mix known as a dorgi, and a cocker spaniel. Of course, a normal estate plan will be much different from that of the Queen herself, but there’s a lot you can learn from her example of why you should always be prepared.
Anne Heche’s death was unexpected and tragic. Since she did not have a Will, not only is her son mourning the tragic death of his mother, but now he needs to deal with the court. Anne Heche could have saved her son so much money, time, and aggravation if she had taken some time to draft a Will.
How to get started with your estate planning
Everyone should be planning for the future in order to protect their wishes and their loved ones. Take the queen’s advice and get your estate planning done now so your family doesn’t have to worry later.
Read the full news article from Forbes here.
For information on preparing a Will or other estate planning documents, take the first step and download Attorney Michael Monteforte's FREE book, "Planning Ahead" to learn the basics.
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