07/27/2023
Ask Brittany: Estate Planning Q&A
Q: Could I face eviction due to an outdated will?
A: It may sound far-fetched, but it's possible.
An example: Grandma signed a will allocating all of her assets for the education of her grandchildren, and in her will, she indicated that her local bank should manage those assets. After signing her will, Grandma bought a home for her daughter and grandchildren but never updated her will. Since the bank was tasked with providing education for the children, the bank is within their right to sell the house with the intention of putting the money in a trust for their education. Then, when the children turn 21, they will get a distribution of whatever is left.
Unfortunately, this oversight is far too common due to the way many lawyers serve their clients. Their estate plans are often just focused on the documents and the one-time transaction, rather than ensuring they work with their clients on an ongoing basis, as we do.
Book with us at www.calendly.com/brittany-pwlf to start your estate planning journey.