What We Can Learn From Celebrity Estate Planning Gone Wrong

What We Can Learn From Celebrity Estate Planning Gone Wrong

While the whole process of making a will can be daunting and quite overwhelming, there’ll come a time when you’ll just have to grit your teeth and simply do it. The process has been known to be lengthy and tedious but this document will define how your property and estate will be distributed after you die. Believe it or not, even celebrates aren’t excluded from these legal responsibilities and some of them, have made some drastic mistakes that caused some major issues regarding their testaments later on. Some people say that it is wise to learn from your mistakes, but perhaps it’s even wiser to learn from the mistakes of others, such as these few influential celebrities:

Marlon_Brando
Marlon Brando

Marlon Brando

Often cited as one of the greatest and most influential actors of all times, Marlon Brando certainly made a great impact on the film industry. Of course, as influential as he was, there are certain things that even the Godfather couldn’t have foreseen. It’s said that Brando had a final will, in which he added an amendment 13 days before he died. This amendment lead to 26 separate cases opened from the year 2003. There’s also the part where certain employees have stated that the actor had promised them some valuables after his death, which was never realized.

The conclusion: While a promise is always nice, make sure to put everything in writing, just in case.

Princess Diana

The Princess of Wales – or commonly known simply as Princess Di, known for her style, charms and high-profile charity, but mostly for her marriage to Charles, the Prince of Wales – had made a significant mark on people all around the globe. Her sudden and untimely death has left a lot of unanswered questions till this very day, but that’s not the only thing she left. Allegedly, the Princess made a personal wish list where she expressed her desires to leave her valuables to her two sons, 17 godchildren and her butler but, her executors made a variance of the wish list.

The conclusion: No matter how good your intentions are, a piece of paper is just a piece of paper, there’s no legal background to it, so make sure not to make any shortcuts and follow the procedure carefully.

Princess Diana
Princess Diana

Jimi Hendrix

Probably the most celebrated musician of the 20th century, this American guitarist had left behind him an estate worth 80$ million. His unfortunate death at the young age of 27 is still widely disputed, while his legacy lives on. A major mistake of this legendary musician is never making a will of any sort, resulting to his estate remaining in court for the next 30 years, until his father took hold of his whole property, leaving Jimi’s brother empty handed.

Jimi Hendrix
Jimi Hendrix

Regardless of your age and health status, it’s always a good idea to make a valid testament, so you’d be certain that your property ends up in the right hands. There’s no excuse for avoiding such a task, especially nowadays where it’s possible to make wills online, without ever leaving the comfort of your home.

Where there’s a will, there’s a way, says an old proverb. If you have been postponing the making of your final testament, perhaps the mistakes of your favourite celebrities will persuade you to finally take action. While the subject of death is highly controversial, it’s important to realise that death is a natural occurrence and creating a will is just a simple obligation that’ll help you dispose of your legacy in the right manner. Don’t fall in the same trap as these deceased celebrities and insure that your belongings find their rightful owners.

image credit: creativecommons.org

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