Pietro Ferrero, the CEO of the Ferrero Group holding company that produces Nutella and Tic Tac mints has died at the age of 47 after falling from a bicycle while on a business trip in South Africa. The decedent was an avid cyclist who was riding a bike on a training run on a road in Cape Town at the time of his fall. Ferrero’s namesake comes from the former CEO’s grandfather named Pietro who started the company in 1942. Since it was hard to obtain ingredients for candy during World War II, Pietro Ferrero decided used hazelnuts, which were in abundance in his region of Piedmont, Italy and invented Nutella by making a sweet paste from the nut. The company has more than 20,000 employees worldwide and is estimated to be worth about 8.5 billion euro. Read more: http://abcnews.go.com/Business/wireStory?id=1340197
This tragedy stresses the importance of proper will and estate planning in the event that you should pass away unexpectedly. Under New York law, to be valid a will must be signed by an adult testator (or with someone’s help), in the presence of the 2 witnesses or alone, provided he later shows the signature to the witnesses and acknowledges that it is his signature. The will must also be in writing and the signature must be at the end of the document. Finally, the testator must publish that the document is a will by establishing that the document is in fact their last will and testament. If these will formalities are not abided, then the document will not be admitted into probate and has no effect.
The attorneys at Leeds, Morelli & Brown, P.C. have worked with a variety of families in Nassau and Suffolk counties, Manhattan, Queens, Brooklyn, Bronx, and Staten Island to probate wills. For questions regarding estate planning, please contact an attorney at the Leeds Morelli & Brown P.C. law firm for a free consultation at 1-888-556-2529.