When creating a last will and testament, it’s important to know your beneficiary. Sadly, that’s not always the case. Marilyn Monroe, one of the world’s most famous icons, didn’t seem to have any idea to whom she left her money. Acting Coach & Psychiatrist Got Everything Marilyn Monroe died at the age of 36 from […]
Read More(This is part 4 in a 4-part series). Today many people are using a revocable living trust instead of a will or joint ownership as the foundation of their estate plan. When properly prepared, a revocable living trust avoids the public, costly and time-consuming court processes of conservatorship or guardianship (due to incapacity) or probate […]
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(This is part 2 in a 4-part series) After a loved one dies, their estate must be settled. While most people want the settlement process to be done ASAP, probate can take between 18 and 24 months. Yes, you heard that right. The time delays create unnecessary stress. 4 Reasons Probate Takes So Long There are many […]
Read More(This is part 1 in a 4-part series) Most people think of probate as a private process. However, since wills are filed at the courthouse, probated estates become a matter of public record. That means your nosey neighbor Nellie can simply go down to the courthouse or hop online and find out about your probate. […]
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Key Takeaways Failing to update a will can exclude children born after execution. Michael Crichton’s unborn son was omitted from his existing estate plan. Heath Ledger’s will did not include his daughter Matilda. Estate disputes over omitted children may lead to costly litigation. Major life events should prompt a review of estate planning documents. Having […]
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Princess Diana of Wales was one of the world’s most loved celebrities – and one of the richest. Her tragic death in 1997 was world news. The majority of her estate, reportedly worth $40 million at the time of her death, was divided between Prince William and Prince Harry in her estate plan. However, she […]
Read MoreA will documents who gets what (and when) after you die. Without a will, state law doles out your belongings. In many cases, your assets may end up in the hands of complete strangers. That’s exactly what happened to these three mega-celebrities: James Dean. Dean died intestate (without a will) in 1955 at the age […]
Read MoreDid you know that the legendary singer and actor, Elvis Presley, earned over a billion dollars throughout his somewhat short career? That’s billion – with a B. However, when the “King of Rock & Roll” died in 1977, his estate’s net worth was only $10 million. Of that, over 70% went to pay taxes and […]
Read MoreThe Big Bang Theory actress Kaley Cuoco is one of the highest-paid actresses on television. She earns one million dollars per episode and has a net worth of $44 million. Before she married tennis star Ryan Sweeting in 2013, Cuoco asked him to sign a prenuptial agreement (“prenup”). After less than two years of marriage, […]
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I’m going to detail several ways you can keep your family out of court after you die, but one of them is far and away the most important: act while you are alive! It sounds obvious. After all, it’s difficult to put an estate plan in place after you die. That being said, estate planning […]
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