Celebrity Estate Planning: Misfires of the Rich and Famous

Estate Planning is often associated with the rich and famous. You often hear of the massive Estates celebrities or the wealthy may leave to their heirs, but sometimes, the issues that arise from how the Estate Plan was created also come to light. This is often the basis of many movies and television shows as well – especially mysteries and thrillers because of how emotionally and financially involved the process can be – that systemically end in bloodbaths. Of course, these reactions have been dramatized for our entertainment, but the implication is that lack of an Estate Plan can create great chaos between family members and loved ones. The truth is, it is in the best interest of anyone to create a sound Estate Plan with a specialized and experienced attorney to avoid family discord and possible rifts.

An Estate Plan can help you completely control your assets, and announce your wishes, if it is done correctly. The article linked below, “Celebrity Estate Planning: Misfires of the Rich and Famous” gives a few examples of how an Estate Plan can go wrong, if certain things are omitted. One may not consider it important to establish a domicile, or mention after-born children, when in fact, these details can have a great effect on the distributions of those named in your Last Will.

Danna & Associates, PC has specialized in Estate Planning and Elder Law since 1994. For over 25 years, we have helped create Estate Plans for countless individuals of varying circumstances. No matter what your wishes may be, we will do our best to make sure you have peace of mind! Call 718.273.0300 for your free consultation today!

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