Estate Planning and the Wizard of ID
Although this is humorous and depicted in the Wizard of Id comic strip, this is actually a reflection of what really does happen in the world of estate planning. However, more often than not, when a person wants to change a will or must change a will for valid reasons it often goes undone and the newly desired wishes of the testator are never executed.
The moral of this strip is for you to review your will or estate plan periodically and modify it as needed including beneficiary designations. If you don’t have a will or estate plan…walk don’t run (to avoid becoming incapacitated or dying) to your nearest estate planning attorney and get it in place immediately.
And yes, if you wish, you can leave it all to your cat! Better yet, consider looking into a pet trust.
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