This article was originally published Probate & Property a bi-monthly magazine published by the American Bar Association (ABA) Real Property, Trust and Estate Law Section (RPTEL) designed to provide lawyers with up-to-date, practical information regarding real estate, wills, trusts and estate planning.
Trusts & Estates Partner Karen Schiele co-authored an article published in the American Bar Association’s Probate & Property magazine examining estate planning mishaps involving celebrities.
The lifestyles of the rich and famous may seem worlds apart from those of everyday Americans. However, when it comes to estate planning, fame and fortune offer no immunity from costly mistakes. Time and time again, iconic figures have fallen victim to estate-planning oversights that have led to legal battles, unintended heirs, and millions in tax losses. The cases that follow illustrate the importance of thorough and strategic estate planning, with lessons that will resonate with legal professionals and individuals alike.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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