If Frank Hartwell died tonight, this is what the family would have to do, in order, and who would do each part. Every step, figure and warning is computed live from what the family recorded: the accounts, the papers, the people and Frank Hartwell's own words. The red ones are where families come apart. Today, each of them can still be fixed.
Each one is read from the family's own record. Today each is a meeting or a signature. Afterward it lands on the family, and often on a court.
“He is my son. The paperwork does not say so, and it should.”Frank Hartwell, on Mateo
“I built it so nobody in this family would ever have to ask anybody for anything. I have not decided who gets it, and I know that is a problem.”Frank Hartwell, on the company
Before anything else.
Elena Hartwell reports it in fAImily and Daniel Hartwell confirms it; nothing opens on one person's word. Then what Frank Hartwell prepared opens to the people Frank Hartwell chose, on the family's rules: home & household and legal papers right away; digital life and business after 1 day; money & accounts after 7 days.
One for each of the 7 places below that will ask for one, and two spare. Ordering them together saves weeks.
Frank Hartwell put 3 things in writing. They aren't binding; they are what Frank Hartwell hoped for. Read them together before anyone decides anything.
“I built it so nobody in this family would ever have to ask anybody for anything. I have not decided who gets it, and I know that is a problem.”Frank Hartwell, on the company
“He is my son. The paperwork does not say so, and it should.”Frank Hartwell, on Mateo
“Elena stays in it as long as she wants. After that the kids work it out.”Frank Hartwell, on the house
Every place that holds something, and who calls it.
Los Angeles, CA
No beneficiary is recorded, so unless it is titled jointly it passes under the will, through probate. Nothing moves until the court appoints Daniel Hartwell.
Nobody is named to take it over, and no agreement is recorded. Someone has to be able to sign payroll and speak for it next week.
Pacific Life
Passes to Elena Hartwell by beneficiary designation: outside the will, no court. Elena Hartwell files the claim with the policy and a certificate.
Los Angeles, CA
No beneficiary is recorded, so unless it is titled jointly it passes under the will, through probate. Nothing moves until the court appoints Daniel Hartwell.
“Elena stays in it as long as she wants. After that the kids work it out.”Frank Hartwell, on the house
Charles Schwab
Passes to Diane Hartwell by beneficiary designation: outside the will, no court. It becomes an inherited account for Diane Hartwell; how it is taken out is a tax decision worth making with the advisor.
Diane Hartwell is named on this. Frank Hartwell and Diane Hartwell divorced in 1999, and the form is from 1998. A beneficiary form overrides the will, so as the paperwork stands, this goes to Diane Hartwell.
Fidelity
The record says it is held jointly, so it passes to the surviving owner, outside the will; the institution retitles it on a certificate. Nothing names who gets it after that.
Wells Fargo
No beneficiary is recorded, so unless it is titled jointly it passes under the will, through probate. Nothing moves until the court appoints Daniel Hartwell. Bills paid from it stop until then.
ScholarShare 529
Passes to Sam Hartwell by beneficiary designation: outside the will, no court. It stays Sam's to use; a successor owner has to take it over.
Settling it.
$7,262,000 waits for the court: Hartwell Millwork, Primary residence and Operating account. Daniel Hartwell files the will and is appointed. It is public, and it takes months.
The will was signed in 2008, before Frank Hartwell married Elena Hartwell and before Sam was born. A trust drafted to keep these out of court was never signed.
Frank's workbench
'Measure twice' is scratched into the case with a nail. Frank has it and has never once lent it out.
One for Frank Hartwell's last year, and one for the estate if it earns anything while it is open.
The firm keeps the account details for 4 of these, $5,646,000. It can move each one to the people named, and help Elena Hartwell with what comes next.
On a family's own account the same plan sits beside the estate record, and it changes the moment the record does.
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