Attorney-CPA Joe Cordell is joined by Jill Enders of KTRS and online editor and “roving reporter” Dan Pearce break down all of the intrigue surrounding the estate of former Chicago Cubs player Ernie Banks. They break down the case, as the story reenters the news.
Caretaker Regina Rice was named the beneficiary in Banks’ will. Banks died in 2015, three months after filing for divorce, and his wife, Elizabeth, and children were did not receive anything, sparking legal action over the course of several years.
Joe talks about the complications surrounding naming a caretaker as a beneficiary in your will, as well as what spouses are entitled to, regardless of a pending divorce, at the time of death. He also emphasizes the importance of sound financial planning and making sure that the estate planning documents being forged are defendable against scrutiny. He offers alternative ideas, such as a video will, that can show the intention and cognitive faculties of the deceased, to prove validity.
Joe and Jill also talk about ways of preventing caretakers from taking advantage of seniors.
