• 05
  • July
    2011

Whether rich or poor, in order for Floridians to ensure that their property and money goes to whom they wish, it is extremely important to work with a skilled estate planning attorney. Without a properly executed will, property will only be distributed according to state laws on family member succession.

In the case of a rich heiress's recent death, however, the existence of a will trumped state succession laws. The woman, who died recently at age 104 and who had remained out of the public eye for the past several decades, had no children or close relatives. Although she did have some distant relatives, she specifically did not want them to inherit anything from her nearly $400 million estate because they had not kept in contact with her.

Rather, the heiress gave a precious doll collection worth millions of dollars and 60 percent of her other assets to her close friend and nurse. The woman's nurse is expected to receive about $40 million worth of assets. The nurse will also receive real estate, potentially including a Fifth Avenue mansion in New York City and a country manor in Connecticut.

What causes some concern for courts, however, is that the woman's attorney and accountant were left $500,000 each and will play important roles in executing the woman's estate. Typically, attorneys that draft a client's will can't receive any gifts in the will, but there are some exceptions. The heiress's attorney plans on arguing that the woman truly wanted to leave him this gift and responsibility, if the will is contested.

Estate planning can be extremely tricky. Without the assistance of an attorney well-versed in probate law, wills can be thrown out. In addition, in the case of a dispute, dealing with a contested will could open grieving family members up to a giant legal headache.

Source: New York Times, "Recluse Left Bulk of Wealth for Art Charity and to her Nurse," John Eligon, 22 June 2011