{ "media_type": "text", "post_content": "Thoughts: my colleague passed away this week. He had no bank nomination or will. His personal savings gone to the state and not his family.\nObservations: \nBeef up your life insurance", "post_id": "5d3075972c0fa9001a5bc612", "reply_count": 32, "vote_count": 5, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Thoughts: my colleague passed away this week. He had no bank nomination or will. His personal savings gone to the state and not his family. Observations: Beef up your life insurance

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Maybe escheated to the state and/or claimed by his creditors if he owes money. But his family should have a claim on anything of value that remains after paying debts. State intestacy laws lay out how the proceeds of an estate is to be distributed in the absence of a will.

helpful

Thank you. I will pass on to his family

If he was married, and heck - even if not and he has surviving family - everything can be handled through probate. My grandmother passed away without a will. It took over a year to get everything straightened out with the court but that happens all the time.

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Thank you. I will pass on to his family

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Nominate your SO / family in all your accounts and vice versa. Create a will Dont miss these fam. Peace of mind. We are in high stress environment

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Op - really sorry to hear about your loss. Why did his personal savings go to the state? Did he owe money?

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Thank you KPMG5. Will pass it on

Has anyone used one of those online law firms for creating a will? Essentially Turbo tax of writing a will..would you recommend any of them?

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Nolo Press generally has good guides/info if you want a total DIY. If you have a significant amount of assets, consider biting the bullet for a living trust through an attorney

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Hmm... any Accenture folks wanna chime in on offers within our firm?

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We have Hyatt legal

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I don’t have SO, I only have my parents, I don’t need a will do I

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Make sure they’re listed as your beneficiaries

Several of the folks in my team had worked with him in the past and they are devastated hearing the news . I did not know him personally . It’s such a tragedy , and he had a young family . RIP

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I’ve been putting off doing my will. I should do them this summer.

Start today. Submit it. You always PCR it

Most firms have Hyatt legal as a benefit that we can opt in. Thought of using that service

Did the same for a will. Super easy and you can generalize everything to be updated at a later date (more kids, differing assets, etc.) Essentially just makes sure the folks you want as beneficiaries actually receive everything.

Yeah I did mine thru Hyatt and paid 0.

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