Man Who Loved Listening To High School Band Leaves $116,000 Endowment From His Estate
Darcy R. MacLachlan, a man who enjoyed listening to the Berkeley Springs High School Band in West Virginia, has left the musical group $116,000. According to Glen R. Stotler, the executor of MacLachlan’s estate, half of his estate was designated for the band, while the other half is to be placed in a trust for the American Legion No. 60, located in Berkeley Springs, to be used for youth programs.
MacLachlan grew up listening to the band practicing in a field located across from his house.
Beneficiaries:
A beneficiary is the individual or organization who a decedent leaves property to in his or her will. Anyone can be a beneficiary, except for the person who makes the will, any person who may have been responsible for the death of the deceased person, and any unincorporated group that is not able to receive or hold property. In some jurisdictions, anyone who acts as a witness to the will being signed becomes disqualified to be a beneficiary.
A person or organization that is a beneficiary may receive specific property items, such as money, houses, or jewelry, from the decedent’s estate. Someone may also be designated to receive anything that remains from an estate after the executor distributes the estate’s gifts to its beneficiaries and pays off the estates expenses and debts.
Making Your Will:
It is important, when updating your will to make sure that it is correctly drafted and witnessed. While many people make their own wills, by working with an estate planning attorney, you can ensure that your will is legally binding and that you’ve left nothing to chance. It is also a good idea to review your will on a regular basis and see if any changes need to be made. For instance, if you have recently gotten a divorce, you may want to remove the name of your ex-spouse as a beneficiary of the estate. Another example is if you just had a child. You will want to include their name as a beneficiary also.
You also will want to inform at least one person who is close to you whom you trust regarding the whereabouts of your will so that it can be found in the event that you pass away. Wrapping up the affairs of your estate can prove challenging for your executor and beneficiaries if your will cannot be found, and this could prevent your executor from being able to distribute your estate in the way that you would have liked.
If you live in Northern California and you would like to speak with an estate planning attorney regarding making your will, Sagaria Law, P.C. can help you. We represent clients throughout Monterey County, Alameda County, and Santa Clara County, as well the surrounding areas, including Watsonville, Capitola, Santa Cruz, San Benito County, Scotts Valley, and Santa Cruz. To schedule a free consultation with one of our estate planning lawyers, contact Sagaria Law, P.C. today.
Man Leaves $116,000 To Band, The Journal, February 7, 2007
Related Web Resources:
Wills and Estate Planning, Nolo.com
Estate Planning FAQ's, American Bar Association
