Tonight’s guest blog post, on the topic of Elvis and wills, technically a departure from writing but who knows how much your writing will be worth in the future, plus it’s really interesting. ‘Lessons from Elvis’ is brought to you by novelist Una Tiers (author Of Judge vs Nuts).
Lessons from Elvis
Elvis Presley died at age 42 in 1977. Five months before his death he signed a will and trust to dispose of his worldly goods. Along with his music, he left an unusual estate plan.
When making an estate plan (a will or trust), we usually plan into the future, considering grown children and grandchildren to inherit.
Elvis planned for the future. He also made provisions for his father and grandmother, both of whom outlived him. He included relatives in need of emergency help during the lifetime of his father.
He used a trust to delay his daughter’s inheritance until she reached her 25th birthday. She was nine years old at the time of his death.
Here are the Elvis lessons: provide for the people around you at the time you make your estate plan as well as for the future; consider using a trust to deliver inheritance when the beneficiaries are older and hopefully more mature to handle the money.
Update your estate plan to match your decisions. Although Elvis signed his last will and trust five months before he died, it was probably not the first plan he made.
I love that one of the witnesses to the will lived on Elvis Presley Boulevard.
Thank you, Una, that was great!
Una Tiers is a Chicago attorney and author whose debut humorcide, Judge vs Nuts was released in early 2012. In 2019, she added her 5th Fiona Gavelle mystery, Judge vs Water.
All are available on Kindle.
Una writes with a droll sense of humor and shares her viewpoint of the practice of law. There are no car chases or people chasing her down the alley at midnight.
Her website is https://unatiers.com.