Celebrities seem to have it all—fame and fortune. Unfortunately, some celebrities have a hard time planning for the division of their assets. They neglect to draft wills, fail to update them, or fail to make sure logistical details are handled correctly. A recent article highlights some high profile estate planning mistakes. It also explains how to avoid those mistakes.
The article provides examples of famous people who made mistakes that led to serious problems for their family members. For example:
- Jimi Hendrix. He died without a will. State law awarded his estate to his father, even though he was close to his brother. His brother received nothing.
- Florence “FloJo” Griffith Joyner. She wrote a will, but she did not tell anyone where it was. Her husband was unable to file it within the time period required by state law. This led to her husband and her mother going to court.
- Heath Ledger. He wrote a will, but he never updated it after the birth of his daughter. The will left everything to his parents and his sister.
- Michael Jackson. He created a trust, but he may have neglected to fully fund it. This led to a public fight between his family members.
Our Marietta, Georgia estate planning firm drafts and updates wills and estate plans for clients across the state of Georgia. Contact the Georgia estate planning attorneys at Georgia Family Law: Worrall Law LLC. Call us at 770.425.6060 or fill out an online contact form.