6 Things I Learned About Money From Famous People's Wills

6 Things I Learned About Money From Famous People's Wills

By Carrie Kirby

I've always been fascinated by William Shakespeare's will. Specifically, by the way he left his wife his "second-best bed," especially since historians are at odds over what he meant by it.

 Was this an insult to a spouse he didn't get along with, or a tender gesture? After all, since everything was handmade, furniture was much more valuable back in the 1600s than it is today.

Thinking about Shakespeare's seemingly odd bequests made me realize that what people list in their wills says a lot about what they value.

So when Ancestry made a searchable database of 170 million will and probate documents available to its subscribers, I eagerly dove in. Of course, most Ancestry members use this information to learn more about their family members; the site touts these records' value in particular for African Americans searching for family history, since wills from the slavery era may name their ancestors as property.

In fact, when I started searching well-known names, the first one I found was a slave owner: George Washington, whose will calls for the freeing of his slaves after Martha's death. (He also called for one, named William Lee, to be freed as soon as he died, which makes sense because Lee was Washington's personal valet.)

What can we learn from the wills of notable dead people? Here's what famous people's taught me about money and finances.

1. Furniture Was Really Valuable

Like Shakespeare, Paul Revere made specific plans for his household furniture after his death; he left it all to his only unmarried daughter — but only if she was still single by the time he died.

 Revere no doubt figured that if his daughter had already established her own household, she'd have no room for dad's tables, chairs, and beds, second best or otherwise.

2. Families Held Onto Silver No Matter What

Louisa May Alcott's family often went hungry in her childhood; in fact, poverty drove Alcott to start writing. Yet, they never became desperate enough to sell the "family silver" — Alcott left her share to a niece in her will.

Alcott's will also made me wonder if the famous author, who never married, had a love affair or some other skeleton in her closet to cover up, because she called for all her letters and manuscripts to be burned upon her death.

To continue reading, please go to the original article here:

https://www.wisebread.com/6-things-i-learned-about-money-from-famous-peoples-wills?ref=seealso