Tuesday, July 10, 2018
Jessica Galligan Goldsmith, Shaina S. Kamen, Christiana M. Lazo, David J. Posner, and Bruce D. Steiner recently published an Article entitled, Celebrity Estate Planning: Misfires of the Rich and Famous, Probate and Property Magazine, Vol. 32, No. 4, July/August 2018. Provided below is an abstract of the Article:
Like many ordinary individuals, celebrities often have outdated or nonexistent estate plans. Even when a celebrity has done careful estate planning and has well-drafted documents, changes in family circumstances or in the tax laws can create unexpected results. The estate plans of the celebrities discussed in this article, each selected to illustrate a different issue, offer useful lessons to estate planners and lay-persons alike.
- Overly Simplistic Wills: Jim Morrison
- After-Born Children: Philip Seymour Hoffman
- Domicile: Heath Ledger
- Second Families and Decanting:David Bowie
- Promises, Promises: Anna Nicole Smith