As a lawyer with years of experience, I’ve received a fair number of unusual wills and last wishes. Every client’s story is unique, and sometimes the last wishes remind the successors of what the client valued or even something that made them smile (or scratch their heads).
Strangely enough, these stories also remind us how important it is to have a proper estate plan, whether that means a traditional will or having some pretty effective property protection trust wills.
Have you ever thought, ‘How far will people go to personalise their legacies?’ Here are a few memorable tales from my career (with obvious details changed to protect privacy and conduct of client confidentiality).
The Case of the Haunted Piano
There once was a passionate pianist who liked to be dramatic. In accordance with her wishes, she did not want to sell or relocate the antique grand piano from her Victorian home. She requested that it remain as a “haunted centrepiece,” with a plaque that said, “Play if you dare.”
Since she had no long-term care to cover the place, we used a property protection trust will, so the home did stay in the family and wasn’t sold off to pay debts or care costs. However, the piano is still maintained exactly as she wished, and so far, nobody has dared to play it.
Dogs are a Man’s Best Friend
Estate planning is often emotional for clients when pets are involved. I once worked with a retired schoolteacher who had a beloved golden retriever named Max. She wanted to make sure that Max was going to be comfortable after she passed away. This is why she left the bulk of her estate in a trust for Max’s welfare.
She made sure that Max’s care would be paid for by a property protection trust. She included money for a caretaker, veterinary bills, and a dog-friendly backyard. But when Max died, the remaining funds went to charity.
If you’re in a similar situation where you want to protect certain assets or certain people, a property protection trust is a good choice. It gives you more control over how your assets are used and who benefits.
A Treasure Hunt with a Twist
A client who loved puzzles and adventures took their will and turned it into a treasure hunt. They left cryptic clues in safe deposit boxes, each containing a small inheritance, a memento, and a final message for their children. The grand prize? A deed to the family vacation home.
If you ask me, this was one of the most unusual ways of saying goodbye. However, seeing the love he had for his family, I could tell he wanted them to celebrate him instead of mourning him. Besides, the treasure hunt was a great idea, and the legal aspect of it was rock solid.
Some Lessons to Learn
While some of these stories may sound eccentric, they highlight some crucial lessons for anyone planning their estate. Here are a few things you should keep in mind:
Specify Interests: Clear instructions in your will or trust are even more important if you are caring for animate or inanimate objects and pets. If you don’t specify your interests, it may be difficult to ensure that your estate is protected and taken care of the way you wish.
Property Protection Trusts: A standard will doesn’t offer the security you may want if you’re worried about care costs or creditors. A robust way to protect assets for your chosen beneficiaries is a property protection trust will.
Open Communication: Disagreements over a surprise clause or wish in a will can happen easily. If you plan to wander off the beaten path, do it early, telling your family why you’re deviating from their expectations. It’s not always that easy, but it helps avoid misunderstandings.
Beyond Financial Securities: Wills offer a way to transfer values, accountability, memories, and even a little personality in addition to being used to divide assets. It’s important to keep this in mind when you’re drafting your will.
Consider Putting Your Assets in a Property Trust Will
When it comes to drafting a will, the best thing to do is to seek professional advice. The process can seem intimidating, but it’s best to have proper guidance.
Estate planning does not have to be boring. It’s an opportunity to leave a legacy, safeguard those you care about, and (hopefully) leave some of your personality behind.
What will be your legacy?