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Millionaire Leaves Behind Estate Plan in Will

A millionaire who passed away with a variety of assets, including real estate, jewelry, artwork and cash, left an island to the Massachusetts Audubon Society, according to the will. The woman -- who was the widow of a well-known philanthropist and heir to the Listerine fortune -- split her sizable amount of assets, including $20 million in cash, between her descendants and several other charities.

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Trusts Can Give Added Privacy to Estate Plans

Because wills are considered public documents, they do not provide much privacy. Trusts, on the other hand, can help keep estate plans and what is going to happen to a person's assets after his or her death behind closed doors. This is something that can be important for Massachusetts residents with high-value assets.

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How Important is a Will to Estate Planning

While an uncomfortable subject for many, proper estate planning is something that should be taken care of sooner than later. No one likes to think about what would happen to their children or their assets after they are gone, but failing to make a will, name an executor or ensure that loved ones will be taken care of after a person's death can be even worse.

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