As two lawyers who have written about celebrity estates for years and hosted the national television special Trial and Heirs: Protect Your Family Fortune! on PBS affiliates, we’ve noticed that stars often make the same big estate planning mistakes as people with very modest assets. It’s just the dollar amounts that differ.
Learn from their goofs and avoid repeating them yourself. That way, you’ll protect your loved ones and be sure your inheritance wishes are carried out.
These are the top four estate planning mistakes made by celebs — errors you’ll want to avoid:
1. No will. Most of us naturally want to be sure our assets are distributed properly after we pass away, so it’s surprising that almost two-thirds of adults don’t even have simple wills. Whether you have millions of dollars or just a modest estate, estate planning is critical — starting with a will.
Unfortunately for the family of Amy Winehouse, the singer didn’t have a will when she unexpectedly passed away at age 27, leaving Read more…
A few weeks into the new year, how many of your New Year’s resolutions have already fallen by the wayside? Exercise more. Eat less. Spend more quality time with family.
Well it’s not too late to tackle a very important resolution that up to two-thirds of adults in our country ignore — estate planning. That’s right, it’s the topic no one likes to think about, but everyone knows they should take care of … wills, trusts, powers of attorney, and more.
It doesn’t have to be intimidating! In fact, celebrity stories are a great way to break the ice to remind everyone of what they need to do.
So, with the help of some recent stories in the news, here are Trial & Heirs: New Years Estate Planning Resolutions for 2012. (We just gave an interview discussing some of these stories, which you can watch here).
The Estate Of Etta James
1. Plan Now and Don’t Procrastinate.
R&B legend Etta James was 72 when she passed away last week, Read more…
Danielle and Andy Mayoras, co-authors of Trial & Heirs: Famous Fortune Fights!, share their Trial & Heirs Estate Planning Resolutions for 2012 with FOX 2 News.
Trial & Heirs: Estate Planning Resolutions for 2012: MyFoxDETROIT.com