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Richest of the Rich: Ten Celebrity Estate Planning Mistakes

Richest of the Rich: Ten Celebrity Estate Planning Mistakes

Just because you can't take it with you doesn't mean you should let the government have it! 

Celebrities often live firmly in the moment, maintaining lavish lifestyles and basking in the adulation of legions of fans. In fact, it's likely this very focus and dedication to the now that allows them to ascend to the tops of their respective fields in the first place.  Unfortunately, this gift becomes a curse when it comes time to perform estate planning.  Too often, celebrities fail to establish even the most rudimentary estate plans, and those that do have a plan in place commonly leave gaping holes, despite their financial might giving them access to the finest attorneys. These easily avoidable oversights can cause enormous family strife and cost tens of millions of dollars.

Here are ten celebrities who did a great job accumulating wealth during their lives but failed to properly plan for their eventual deaths.

 

Estimated net worth of these estates is calculated using CelebrityNetWorth.com [6].