Robert Morin loved books. It is believed that with only a few exceptions he once read every book published in the U.S. between 1930 and 1940 in chronological order. Thus, it was probably fitting that when he graduated from the University of New Hampshire in 1963 he went to work in the school’s library.
Librarians do not normally make a lot of money, so it came as a surprise to everyone when Morin left the university his entire fortune when he passed away, which was approximately $4 million. Apparently, Morin lived simply and invested well. He stipulated that $100,000 should go to the library where he worked, but the university can use the rest for other purposes.
Similar stories come up every few years. For example, grade school teachers have been known to save and leave millions to charity. In another recent case, a janitor left a small fortune to the school where he worked. What this shows is that anyone who has the desire to do so can make a fortune by living simply and investing money well.
Of course, savers like Morin would probably be upset if all that money ended up going to the wrong person or place. That’s why it’s important to have at least a basic estate plan in place to ensure your wishes are fulfilled without any waste or delay.
If you don’t have an estate plan or think it’s time to review your options then feel free to call an experienced estate planning attorney at Simmons & Schiavo by calling (781) 397-1700, emailing email@example.com or visiting our contact us webpage.