As a rule, when you read an article about a celebrity on an estate planning website, the article usually illustrates how the celebrity died without proper planning. – A mistake which ultimately left his or her estate in total disarray and the family heading towards a long grueling court battle.
In truth, these stories are the exception rather than the rule. Because the simple fact is estate planning works.
Submitted for your approval is the exception to the exception…
Singer/song writer, George Michael died Sunday, December 25, 2016. He was only fifty three years old.
In life, George Michael was something of an outspoken artist with a rebellious spirit. It would be easy to predict his as one of those celebrity estates left in disarray. Only, it wasn’t.
By all accounts, George Michaels’ planning was current and well drafted.
His estate was valued at one hundred five million pounds (approximately one hundred twenty five million in U.S. dollars)
Michael who was particularly close to his sister, Melanie, (who worked as his personal hair stylist), reportedly left her fifty million pounds (more than sixty two million in U.S. dollars).
His sister, Yioda is expected to inherit a healthy chunk of the estate as well. As are his two god children and several charities.
No one needs to be a rock star to have effective planning, any more than they need to be a rock star to have defective planning. Anyone who plans well, works with a qualified attorney and keeps their plan regularly updated should enjoy tremendous peace of mind knowing their assets will go to who they intend them to.
For more information about wills, trusts or other estate planning documents, please contact a qualified estate planning attorney.