Monday, February 7, 2011

Chief Justice Warren Burger's Do-It-Yourself Will...costs his estate $450,000+

You would think that the Chief Justice of the US Supreme Court would know how to prepare his own Will. Sadly, though, Chief Justice Warren Burger's self-prepared 1 page Will resulted in unnecessary probate expenses, and likely cost his heirs over $450,000 in avoidable taxes.

According to the Associated Press article in the November 1, 1995 edition of the Marin Independent Journal, Justice Burger's Will, that he prepared on his computer,  was replete with misspellings, and lacked a number of ordinary provisions that resulted in needless probate expenses. Additionally, he failed to protect his heirs from estate taxes that were estimated to be in excess of $450,000.

Although he zealously guarded his privacy during his lifetime, Justice Burger's Will and probate record are available for public viewing at the Arlington County Courthouse.

All of this could likely have been avoided if Justice Burger had spent about $2,000 for  an appropriate estate plan by an experienced estate planning attorney.

If Justice Burger wasn't able to prepare his own estate plan, should you really be preparing your own?