Celebrities continue to make huge mistakes when it comes to estate planning.
A story on insurancenewsnet.com examines a number of cases where celebrities failed to do the right thing where estate planning was concerned. Among the celebrities included in the roundup are football player Steve McNair, singer John Denver, and Elizabeth Edwards, wife of politician John Edwards.
McNair, who was shot by his girlfriend, had not even drafted a will. His widow had to beg a probate judge to release some money from his $20 million estate, which had been frozen pending payment of taxes.
Denver also failed to leave a will. His family had to wait six years until his estate went through probate.
Brando supposedly made an oral promise to leave his housekeeper a house but there was nothing in writing. She sued but settled for far less than the house.
Edwards tried to cut her philandering husband out of her will, which she signed six days before her death. But the law in her state does not allow that.
The story details many other celebrity estate mishaps as examples of what not to do when dealing with one’s estate.
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