Georgia Lemoy was one of three children. She never married or had children of her own. She
Question:
Georgia Lemoy was one of three children. She never married or had children of her own. She and her two siblings all lived in the western suburbs of Chicago throughout their lives. The extended family spent holidays together, and Georgia developed strong loving relationships with her six nieces and nephews. She took each one of them on a two-week trip to the European country of his or her choice for their high school graduation present. Georgia also gave each of her nieces and nephews $10,000 toward college tuition.
Georgia was a paralegal who lived frugally. By her retirement in 2011 at age 70, she had amassed an estate of approximately $750,000. (She had a condo valued at $250,000 and a 401k account with $500,000 in stock.) In 2011, just before retirement, an attorney at the firm drafted a will for her. She left her estate in equal shares to her two siblings and six nieces and nephews.
In 2014, Georgia turned 73, and her sight began failing. She gave her younger brother Ulysses, who was 69 years old, a power of attorney to handle her finances. Two years later, when her general health also started to deteriorate, Ulysses hired Katherine Greer to be a live-in caregiver for Georgia. Despite Georgia's initial concerns about having someone live with her, she developed a good relationship with Katherine. They both loved movies, and Katherine read history books out loud to Georgia.
In 2019, Katherine drove Georgia to her old law firm, and Georgia executed a codicil to her will. The codicil made a $50,000 gift to Katherine but did not change any of the other residuary beneficiaries.
After Georgia died in 2023, Katherine filed a 2021 will for probate. It made gifts of $20,000 to each of Georgia's six nieces and nephews and gave the residue to Katherine. This will was drafted by a different attorney. Included in the envelope with the will was a videotape made in the attorney's office. Georgia appeared to be very frail, but she spoke clearly. She said that for the past six years, Katherine had been her only real friend. She still saw her family on holidays, but her nieces and nephews were so consumed with their own careers and families that they didn't have time for her. She was upset that they no longer called or visited her, and therefore, she wanted her friend Katherine to have more of her estate.
- What is one of the legal issues raised by this hypothetical? Explain.
- How would an Illinois court be likely to decide that issue? Why?
Ethics in Accounting A Decision Making Approach
ISBN: 978-1118928332
1st edition
Authors: Gordon Klein