• 21
  • November
    2011

A recently deceased millionaire heiress left the bulk of her fortune to an unlikely heir -- her nurse. The heiress chose not to leave any of her estate to her family.

The nurse, who was born in the Philippines and has worked as a nurse in the United States since her arrival here in 1972, now has an enormous fortune including several luxury cars, a priceless doll collection and $33.6 million in cash. Florida estate planning attorneys note that the nurse is fortunate that her patient made sure to lay out the terms of the inheritance clearly in her estate plans.

Even so, the endowment was the subject of scrutiny by investigators wanting to make sure the massive estate was handled properly. But because the woman planned her estate before suffering from dementia or an unexpected death, she ensured that her estate would be properly divided up and awarded to her chosen heirs. This planning allowed the woman to know with great certainty that her wishes would be carried out once she passed away.

Although this size of an estate is not typical, the issues at hand are applicable to anyone handling their estate and hoping to designate heirs in the event of their death. Choosing heirs to your estate gives you the ability to coordinate these actions and have your requests documented in a legally binding contract, preventing other parties from trying to lay claim to your fortune and assets.

Source: NY Post "How a New York heiress made her nurse a millionaire" Nov. 20, 2011