Tuesday, June 28, 2011

Inheritance for Homeless Man in Utah

This news story has the makings of a Hollywood production. Man dies, names brother in his will, said brother has lost connection with the family, and is living on the streets, homeless. An investigator finds him, off a tip, in a public park. The homeless man is homeless no longer. An uplifting story is a pleasure to read, but this has an important lesson for those updating or creating an estate plan. Do the best you can to provide a location or contact method for the beneficiaries named in our will.

When drafting for clients, I have the document state the beneficiaries name and relation. For example, to Jane Smith, my sister. I then advise clients to leave a letter of instruction to the Personal Representative. On this letter one can list Jane's address, phone, email, etc. This letter if far easier to update than a will; no lawyer needed.

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