Abraham Lincoln’s Intestate Estate
Abraham Lincoln, the 16th President of the United States, is widely recognized as one of the most important and influential figures in American history. However, despite his many accomplishments and accolades, Honest Abe passed away without leaving a formal Will or estate plan. In this blog post, our Morgantown estate planning attorney, Brianna W. McCardle, will explore the implications of Lincoln's intestate estate and how his assets were distributed after his death.
When Lincoln passed away on April 15, 1865, he left behind a significant estate, including real property, personal property, and other assets. However, because he did not leave a Will, his estate was subject to the laws of intestacy (i.e., the laws regarding how your estate is distributed when you pass away without a Will). Under these laws, Lincoln's assets were distributed among his surviving heirs, which were his wife, Mary Todd Lincoln, and their two surviving sons, Robert Todd Lincoln, and Thomas "Tad" Lincoln.
Without a formal personal representative named, upon request by Mary Todd and Robert, U. S. Supreme Court Justice David Davis, a close family friend, served as administrator of Lincoln’s estate. In short, Lincoln did not have a say in who administered his estate or how it was administered.
After what ended up being a two-year process, Mary Todd Lincoln received a one-third share of the estate, while the other two-thirds were divided among Lincoln’s surviving sons. This distribution was in keeping with the laws of the time, which favored the surviving spouse and children of the deceased. The estate was valued at $110,296.80 at the time of Lincoln's death, which was a considerable amount of money in the mid-19th century (worth over $2 million today).
West Virginia also has laws for intestate succession. This pamphlet on intestate succession developed by West Virginia Senior Legal Aid details intestate succession in an easy-to-read and understandable manner. Consider how your estate would be divided if you were to pass away without a Will. Does this match what you would want? Also consider that you do not have a say in who administers your estate under the laws of intestate succession, but that the law provides for who may administer your estate if you do not name a representative.
Lincoln's intestate estate is an important reminder of the importance of estate planning. Lincoln may have preferred a different distribution of his estate; however, without a proper plan in place, the law decided the distribution of his estate for him. While Abraham Lincoln's intestate estate did not have a significant impact on his legacy as a leader and statesman, it serves as a cautionary tale about the importance of estate planning. By taking the time now to create a Will and estate plan, individuals can ensure that their assets are distributed according to their wishes and minimize the potential for disputes among surviving family members.
Whether you are just starting to think about estate planning, know what your goals are and need a brand-new plan, or have an old plan that needs updates, we can help.
