Ad: BlueJ Better Tax Answers. -Accomplish hours of research in seconds -Instantly draft high-quality communications -Verify answers using a library of trusted tax content. Learn more

Estate Planning Mishaps of the Rich and Famous

Trial & Heirs Forbes, Estate Mistakes: Where Heath Ledger And Princess Di Went Wrong; What You Can Learn From the Planning Failures of the Rich and Famous, reviewing Andrew W. Mayoras & Danielle B. Mayoras, Trial & Heirs (Wise Circle Books, 2009):

What do Princess Di, Marlon Brando, Heath Ledger, Jimi Hendrix and former Supreme Court Justice Warren Burger have in common? They all flubbed their estate planning, costing intended heirs money and/or grief, according to a readable (really) estate planning how-to book, Trial & Heirs. The new book uses these celebrity cliffhanger cases to dish out real-life advice.

The mistakes these folks made run the gamut. Jimi Hendrix died without a will, leaving his close brother Leon with nothing. Supreme Court Chief Justice Warren Burger wrote his own will, which at 176 words left out basic tax clauses that could have saved $450,000 in estate taxes. Princess Di relied on a "letter of wishes" to give away belongings, and her godchildren got shortchanged. For more on these and other celebrity flubs, see our slide show.


About the Author

Ad: BlueJ Better Tax Answers. Blue J's generative AI tax research solution is transforming how tax experts work. Learn more.
Ad: TaxAnalysis Award of Distinction. Honoring those that have made outstanding contributions to the field of taxation.
Information and rates on advertising on TaxProf Blog

Discover more from TaxProf Blog

Subscribe now to keep reading and get access to the full archive.

Continue reading