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December 2015 Archives

Man dies without legal heir; his assets are auctioned off

A California man reportedly passed away without a legal heir or legally signed estate documents, resulting in many of his assets being auctioned off to the highest bidder. Reports indicate that the man did have at least one will, but the original document could not be found. Instead, a copy of the will was found in the trunk of a car, and that copy was not considered to be legitimate by the court.

Test the waters before choosing a trustee

If part of your estate plan includes setting up a trust to manage funds for heirs or a business, then you will need to appoint someone to be in charge of that trust when you are gone or unable to handle the duties yourself. While no crystal ball exists to tell you how someone will perform such a job, you can test the waters early with younger family members.

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