my 85 year-old mother-in-law has never had a will. she suffers from steadily decreasing motility, which could require moving to assisted living from her current independent living retirement facility. otherwise, she is in reasonably good health. her assets are in savings accounts with my wife and her brother as beneficiaries, and a large sum in her checking account without named beneficiaries.
should she have a will and do the naming of benefici aries on her accounts obviate the need for a will?
thanks in advance
1 Answer from Attorneys
It is always a good idea to have a will prepared even for the most simplistic estates. If her only assets are cash-based and she wishes for the assets to be evenly distributed among her children, her will could easily be prepared for very little cost but would provide the added benefit of catching any residual assets that are not otherwise accounted for now.
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