Quote:
Originally Posted by Toast_Man
I have to know, what's something that would come up from a Will Kit that would put beneficiaries out hundreds of thousands of dollars?
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I have a long list of 'experiences' due to will kits but this particular one was expensive.
Deceased was never married, had no children and was estranged from his 3 siblings but had retained a close relationship with one of his nephews. Didn't have much liquid assets but had owned his home in the Capital hill area. Used a kit to prep a will to name his nephew as executor and sole beneficiary... except he screwed up the beneficiary section and failed to appoint any residuary beneficiaries.
Typically this means the assets get distributed as per the intestacy rules meaning that his home was sold and the cash proceeds split equally between his 3 estranged siblings (who he disliked intensely) and his intended beneficiary missed out on a $750K property.
We referred this client out to a litigator (as we don't practice in that area) and the last word I got was that it "Didn't go well" for the client.
Now usually a screwed up will kit may only cost the estate an extra $2,500 or so to rectify but I've seen many that have cost $10k or more in legal costs... all to save what... $500 to $600 on a properly drafted will?