Do you know where you want your assets to go after you pass? Some Texas residents have very specific plans. If you do, you should make sure to formulate legal preparations for the distribution of your estate. This way, you can ensure that your loved ones receive their appropriate share without any problems. In a recent story, a former well-known actor decided to bequeath some of his life earnings to a university for education purposes.
Sources explain that the estate of former “Columbo” star Peter Falk has willed $3 million to the University of California, Los Angeles (UCLA), for student scholarships. The money will be used to create the Shera and Peter Falk Lt. Columbo Memorial Scholarship Fund. The first award will go to five students entering UCLA next fall. It will cover the students’ tuition for four years. The scholarship will focus on aiding undergraduates studying music, military veterans and those with disabilities.
After a long acting career on Broadway, in television and in the movies, Falk passed away last June at the age of 83. Specifically, the actor was best known for his role as a Los Angeles police detective on “Columbo,” which earned him four Primetime Emmy Awards.
Based on his probate arrangements, one might assume that education was extremely important to the former actor. If you are making estate plans, you should consider what is important to you. Do you have a preferred charity that you would like to support? Do you want your children to receive most of your assets? If you have particular plans for your estate, you may want to speak to an experienced lawyer. An attorney will guarantee that the people you care about are taken care of after you pass away.
Source: Washington Post, “Former ‘Columbo’ star Peter Falk bequeaths $3 million to UCLA to provide student scholarships,” Feb. 21, 2012