Reverend Martin Luther King, Jr. is remembered as a great American civil rights leader and peace activist. Unfortunately MLK made the same mistake that many New Jersey residents make: he died without a will. Many people procrastinate their estate planning and die before they have a chance to execute a will.

A will is not just for elderly people and the famous. Although most of us will not be assassinated like Martin Luther King Jr., car accidents, unexpected illnesses and other untimely deaths are not uncommon. A will is important if you have young children or if you have children from different spouses. A will can ensure that your finances and properly handled and that your wishes are respected. A will can also give peace of mind to loved ones who will not have to wonder whether you would have made certain decisions about your estate.

Unfortunately MLK's heirs have been embroiled in a protracted fight over his estate which could have been avoided if MLK had a solid estate plan. MLK's children have filed lawsuits related to the handling of his estate and claims of misappropriated assets and mismanagement have left an embarrassing stain on this great leader's legacy.

The most recent lawsuit involving the MLK estate involves documents which he allegedly gifted to his secretary. The documents were given to Elizabeth City State University which eventually passed them to the secretary's son. The secretary swears that these documents were gifts but the estate is challenging this assertion. This lawsuits highlights the issues that can arise out of verbal promises and gifts. A solid estate plan can help New Jersey residents avoid similar disputes after they pass and give everyone a peace of mind.

Source: Forbes, "MLK Heirs Challenge Gifts To His 86-Year-Old Former Secretary," Danielle and Andy Mayoras, Dec. 16, 2011