Welcome to the next enchanting instalment of our whimsical (yet serious!) series on estate planning through the lens of fairy tales. This time, we’re heading to the land of Oz – where tornadoes, witches, and ruby slippers create the perfect storm of estate planning conundrums. Apt with the launch of the new Wicked movie.
What happens when a pair of magical shoes becomes the subject of a contested inheritance? Let’s dive in and explore the legal chaos of Oz.
Who Owns the Ruby Slippers?
The Wizard of Oz kicks off with a rather unconventional transfer of assets: Dorothy’s house crash-lands on the Wicked Witch of the East, inadvertently making Dorothy the new owner of the iconic ruby slippers. A fair inheritance? The Wicked Witch of the West certainly doesn’t think so.
If Oz had a legal system – and we’re assuming it would follow the rules of England and Wales, because why not – the Wicked Witch of the West could have grounds for an inheritance dispute. The slippers, as part of the estate, might have been intended for her, but without a Will, we’ll never know.
The Wicked Truth About Intestacy
Let’s say the Wicked Witch of the East had passed away without a Will (tragically, houses falling from the sky don’t leave much time for paperwork). Under intestacy rules:
- If she had no spouse or children, her next of kin would inherit.
- That might be her sister, the Wicked Witch of the West – though no doubt the Munchkins might also make a claim, considering their land was impacted by her reign of terror.
But here’s where the ruby slippers become a problem. Dorothy, who isn’t related to the Wicked Witch at all, takes possession of them without any legal authority. Intestacy rules don’t cover “finders-keepers” scenarios, and this could lead to a lengthy legal battle worthy of a sequel.
The Problem with Leaving No Plan
The drama in Oz highlights what happens when no one takes control of an estate. The ruby slippers aren’t just an asset; they’re a symbol of power – and their ownership directly impacts the lives of others. Without a clear Will, disputes over who gets what can tear families (and fairy tale realms) apart.
What Could the Wicked Witch of the East Have Done?
- Write a Will: Simple but effective, this could have ensured the slippers went to her chosen beneficiary – whether that was her sister, her pet flying monkeys, or a local museum.
- Specify Gifts: If the slippers held sentimental or magical value, she could have made a specific gift in her Will, leaving no room for interpretation.
- Consider Legacy Wishes: Had she wanted to make amends with the Munchkins, she could have left part of her estate to them – perhaps as a fund for rebuilding homes destroyed during her reign.
- Appoint Executors: Reliable individuals (not easily bribed by witches or wizards) could have ensured her estate was distributed according to her wishes.
A Modern-Day Dorothy
Imagine Dorothy living in 2024 or soon to be 2025. She might think, “I don’t need a Will; I don’t own much besides a small Kansas farm and a dog.” Don’t get us started on the farm! But by the time she’s back from Oz with magical shoes and stories to tell, she’s acquired assets (and responsibilities) that need protection.
Estate planning isn’t just for witches or wizards – it’s for everyone, whether you’re living in a castle, a farmhouse, or travelling by tornado.
Lessons From the Yellow Brick Road
From family disputes to unexpected inheritances, the world of Oz is a reminder of how important estate planning can be. Without clear instructions, even a simple estate (or a pair of shoes) can spark conflict. And while we can’t guarantee ruby slippers in your estate, we can promise peace of mind for you and your loved ones.
The Final Curtain (and the Glinda-Approved Bit)
Good witches, bad witches, or somewhere in between – we all need a plan for the future. Don’t leave your legacy to chance or flying houses. A well-drafted Will ensures your wishes are carried out, your loved ones are protected, and no one ends up clicking their heels in frustration.
So, if you don’t have a Will yet, don’t follow the yellow brick road – follow us to SLS Wills and More!
PS: Why don’t witches wear flat shoes? Because there’s no arch support in arch enemies.
