Estate Planning – Lessons from Celebrities

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Posted on 2nd June 2010 by Rita in Life Insurance |Retirement and Estate Planning

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Will and Testament PaperCelebrity follies get our attention when flashed in the breaking news headlines.. but we can get much more out of this news then just the entertainment value. As Eleanor Roosevelt said… “Learn from the mistakes of others. You can’t live long enough to make them all yourself.”

I recently read the article “The lessons of famously bad Estate Planning” in the May issue of Insurance news net magazine. Where many celebs are mentioned who did not have their Will and Estate in order before their untimely deaths. Therefore creating a disaster of problems for loved ones to deal with.


Jimi Hendrix – died September 18, 1970 at the age of 27 years old, without a will. Over 30 years later his estate was still in court, ultimately his $80 million estate went to his father’s adopted daughter.

source: http://www.legalzoom.com/legal-headlines/celebrity-lawsuits/battle-over-jimi

James Brown – His 2006 Christmas day death, brought out much bickering over where the proper burial place should be. A year later the estate continued to be in limbo as some surviving children put fourth a challenge on the estate.

source: http://www.legalzoom.com/legal-headlines/celebrity-lawsuits/james-browns-estate-still

Sonny Bono – Following his January 5, 1998 skiing accident that resulted in his death, Sonny’s widow, Mary had to schedule her grieving time for later. She was thrown into having to take action right away by going to court to be appointed the estate’s executor, and file a court petition to manage royalties. There was a line of people to make claims on the estate. That is never a good thing for those left to deal with it all.

source: http://www.insurancenewsnetmagazine.com/may10/“The lessons of famously bad Estate Planning”

When our wishes are not communicated legally before our passing , our failure of action puts a burden on family members who must spend weeks, months or even years trying to straighten everything out. Which is not a stress free task to tackle. I’m sure most of us do not wish to create such a burden for our loved ones. In order to prevent such burdens on family members, it is necessary to do some simple pre-planning.

I know we don’t want to discuss things that involve our death, but it is essential in order for family members and loved ones to maintain their stability. So what are you waiting for? Contact a qualified representative today!

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Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.

Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
View INSTANT Term-Life Quote: www.insureyourfamily.com
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Contact info: Phone: 800.541.5858 Email: rita.sollie@nclife.com or Live Chat below.

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