Estate Plan for Willis and Wanda Notimeleft

780 WordsApr 13, 20144 Pages
Estate Plan for Willis and Wanda Notimeleft Advance Business Law Willis and Wanda Notimeleft have a net estate of $8.5 million dollars. They are 87 and 86 years of age, respectively. They have 3 children, Daryl (56 YOA), Darlene (54 YOA), and Derelict (49 YOA). They desire to pass their property on to their children and do not believe in giving money to charities. Daryl is a priest who recently was honored by the Pope at a ceremony at the Vatican. He has one child, Ohio, who nobody knows about except the immediate family. Darlene is a wealthy bird-watcher who has been the first person to identify 17 different species of rare birds, including the Gawking Loon, and her Gawking Loon Bird Treats have won numerous…show more content…
I would advise both Wanda and Willis to choose their son Daryl as their first successor, than I would suggest that their daughter Darlene to be named second, and Derelict when everyone else is unable to administer the estate. I would also advise that they choose their daughter Darlene as their patient advocate in the case where both parents are alive but unable to speak for themselves, or one is deceased and the other is incapacitated. It would be up to her to make any of the necessary decisions on their health care issues. References Clarkson, Mille, Cross. (2012). Baker College – Advance Business Law (pp. 1018 -1035). Cengage. Living Trust Network. (2014). Retrieved February 17, 2014, from www.livingtrustnetwork. New York Life Insurance company. (2013). Retrieved February 17, 2014, from

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