Robin Williams
He did it right.
Public documents show that the comic left behind several trusts to benefit his heirs. The existing trusts, and the fact no probate estate was filed, show that Williams did the right thing in planning to protect his family. Concerns were raised after Williams’ death that he had been financially strapped, but the records show that the trusts have over $20 million in equity. As Williams used trusts the proper way, his financial details will remain private.
Lesson: After Williams died, it was announced that he had Parkinson’s and Levy Body Dementia. Since Williams drafted his estate planning documents years before he became sick, Williams’ family won’t have to worry about fighting over the validity of the documents due to the actor’s poor health.
Howard Hughes – No Lesson, Just a Warning
Probably the largest estate that was squabbled over was that of Howard Hughes, aviator, engineer, film director and playboy. Hughes, who died in 1976, left an estate worth a little over $2 billion. Since no one could find a legitimate will, the matter went to the courts and finally, in 1983 was shared among 22 cousins.
Not to be forgotten, Melvin Dummar, a Utah gas station owner, has filed another suit trying to claim $156 million that Dummar claims was left to him during a midnight visit by Mr. Hughes.
Warning: Making sure your will and other estate planning documents are current with your wishes can save your family and friends a good deal of money as well as emotional pain. Mr. Hughes could easily have afforded the best attorneys to handled this for him, but his oversight has kept his estate in court for decades.
For more information, visit http://www.nyestatelawfirm.com/
