It's 2006, Michael Jackson and his partners are meeting in a hotel. Jackson promises his partners shares in his company for their loyalty. Flash forward to today, and the business partners were in court, trying to get their agreement enforced against the estate.
The court had no problem sending them home empty-handed. The problem? Besides waiting 5 years after Michal Jackson’s death to file a claim against the estate, there was no writing backing up the agreement.
If you are making promises to your heirs, be sure to put those promises in writing. If you don’t, you could be setting up future court fights as heirs try to reconcile what you told them with what you actually did.
Erik is the founder of Estate Plan Pros, a leading estate planning practice in Elk Grove. Erik’s practice focuses on Estate Planning Law. In Estate Planning, Erik works with clients to make the process simple, so clients can focus on more important things. He is a local authority for specialized estate planning instruments, like Special Needs Trust, Irrevocable Trusts, or other focused documents. Erik has litigated, negotiated, and mediated the gamut of family law cases. With this unique perspective as a family law and estate attorney he can often spot issues otherwise overlooked. Prior to graduating he worked as a legislative analyst for a non-profit organization, and volunteered as a youth counselor. Erik currently participates in local politics and is an active member of his local church. Erik is very happily married and has two young sons. Together, his family loves to get outdoors and enjoy the varied activities the Sacramento region has to offer.