Even Celebrities Need an Estate Planning Attorney's Help
Living in South Florida sure has its perks. Enjoying the coastal regions and participating in the activities that accompany our wonderful year-round weather make our area so desirable to live in. Whether we like it or not, this attractiveness has made South Florida a favorite place for famous entertainers, athletes, executives and political figures to vacation and retire. Of course, when one of these “special people” passes away, the heirs of their fortune become the front page news. Some recent, highly publicized estate battles concerning deceased celebrities have cast a bright spotlight on the importance of having the proper estate plan.
I have recently read the book “Trial and Heirs, Famous Fortune Fights.” I recommend it to anyone starting to establish their estate plan or just reviewing an existing one. Regardless of the size of your estate, this book can help you understand some of the most common errors made in estate planning. The book will also aid in avoiding the nightmares that can occur and cause financial heartache and strain to your heirs. It is an easy reading book that uses examples of estate planning blunders that plagued famous people over the years. Some of the highlighted cases include Anna Nicole Smith, Marlon Brando, Gary Coleman, Michael Jackson and many others.
One would assume that celebrity, fame and the money that accompanies it would put these folks in a position to get their post-death asset distribution done properly. This is not necessarily the case. Learn from their mistakes, and if you attempt to create an estate plan on your own, have an estate planning attorney look it over before you finalize.