Columbia, MO asked in Estate Planning for Missouri

Q: Does a 79-year old woman with no assets and only her monthly social security payment need a will or living trust?

My mother-in-law is a widow with four adult children. She lives with my brother-in-law, but my wife and I manage her finances.

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1 Lawyer Answer
Nina Whitehurst
Nina Whitehurst
  • Estate Planning Lawyer
  • Crossville, TN

A: An individual who knows for a fact that he or she will die owning absolutely nothing does not need a will or a living trust. HOWEVER, elderly people have been known to inherit from others well into their 70s, 80s and 90s and then, suddenly, there are assets. It is sad when they did not have a will and so people end up inheriting from them that they would have have wanted to inherit because they waiting too long to make a will.

Tim Akpinar agrees with this answer

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