Here is a story that will either make you feel very comfortable because you have a legal will and your affairs in order, or if not, I hope it will shock you into action! (I’ve changed the names for privacy reasons).
Frank was getting older and was single due to a divorce. He decided to help his son Bill get into his first house by going guarantor for a loan. To get the bank on side, Frank’s name was added to the title as a ‘tenant in common’ (a joint owner).
That all seemed OK at the time.
Frank subsequently remarried.
At a family barbecue last Christmas Frank suggested to Bill that it might be time to sort out the situation with the house loan and title but Bill shrugged it off as something they could do later.
Frank had a heart attack and died early this year.
When Frank’s Will was read it was discovered that he had not had professional advice when preparing that Will. He had just done a simple ‘kit’ will and left everything to his new wife. This meant that Bill’s house was now part owned by his deceased father’s wife, a woman he had no time for.
It’s almost the year since Frank offered to sort out the paperwork and Bill is still fighting for the ownership of his house. It’s not going well!
If you have your Will in order you would be shaking your head right now wondering why this did not have a different ending.
If you do not have a legal will or you have some ‘iffy’ agreements that need sorting out you should just be shaking all over!
Do something about it ASAP!
If you’re like most people and you’ve been putting it off even though you know you need a Will and you’ve been meaning to do it for a while do something about it.
Yep, we all get busy and we have good intentions trying to make the time to see a lawyer but it just ends up in the “too hard basket”. Add the expense of seeing a Lawyer and that makes it even less likely to happen.
For the sake of your loved ones please make sure you take care of your will as a matter of urgency.
That’s all for now…