Making sure that your wishes are known prior to your death is vital if you want those wishes to be followed. For one man in Michigan, the fact that his brother's wishes spelled out precisely likely made ensuring those wishes were followed a little bit easier.
The Michigan-born man served on the board of an art museum prior to his death in 2013. He gave his art collection to that museum, the Whitney Museum of American Art in Manhattan, according to the man's will that was filed in the Surrogate's Court. His will was very specific and included the directive that one painting in his collection wouldn't go to the museum. The will also stated that his wine collection be given to a friend and that his residential property be sold by his estate. He left $2 million to his assistant. Everything else was left to his executor and the trustee of his estate. His personal property is worth an estimated $15 million to $20 million, according to the executor.
The deceased man had no children and was divorced. With the specific instructions he left in his will, it seems it was easy to know just what he wanted.
Anyone who has personal possessions of any type should have a will in place. This legal document makes it easy for everyone to know what you want to happen with your property. Getting assistance from an experienced estate administration attorney may help to ensure you have everything in order to make it easy for the executor and trustee of your estate to follow your wishes when you are gone.
Source: Business Week, "Hedge-Fund Founder Robert W. Wilson Leaves Art to Whitney" Chris Dolmetsch, Jan. 17, 2014