Estate Planning Stories

 

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Here’s a non-serious and perhaps non-factual story about creative estate planning:

Joe was a single guy. He lived at home with his widowed father and worked in the family business. After he found out he was going to inherit a fortune when his sickly father died, he decided he needed a wife with whom to share his fortune.

One evening at an investment meeting he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away. “I may look like just an ordinary man,” he said to her. “But in only a few years my father will die and I’ll inherit 20 million dollars.”

Impressed, the woman obtained his business card. Three days later she became his stepmother.

Women are so much better at estate planning than men.

Now here’s a true story on the serious side. Over 30 years ago during my first term of duty with what was then known as Lutheran Foundation of Texas, I assisted a married couple with their estate plan. For a number of reasons they asked LFOT, now Legacy Deo, to serve as executor of their respective estates. He died several years ago. She passed away earlier this year.

In accord with directives in their last will and testament, the Executive Director of LFOT, now known as the Chief Executive Officer of Legacy Deo, is serving as executor. That’s me.

This couple’s estate included a double crypt at a funeral home in Brookfield, Wisconsin. Recently in that state for another reason, I was able to look at this very valuable estate asset. Because the family chose to be buried in Texas, they no longer need the crypt, now for sale.

The funeral home is the most beautiful I have ever seen. The main building is surrounded by well-manicured grounds and acres of bronze grave markers. The interior includes pristine, dignified crypt halls with burial spaces on each side, from floor to ceiling. I was impressed!

It’s my duty to liquidate all assets of this estate, which will then be distributed to the Lutheran congregation of which these two dear folks were members. If you’re interested in more information about crypt location and price, let me know. I’ll be happy to provide the details.

In the meantime, if you haven’t already done so, I strongly encourage you to do what these fine folks did. Take care of the very important matter of estate planning, which is not accomplished simply by marrying a wealthy senior citizen. Planning your estate is a critically significant responsibility that, when accomplished, will bring peace of mind to you and to your family. Legacy Deo can help.

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