Avoid These Celebrity Estate Planning Mistakes
We all make mistakes; however, not having a will or estate plan in place is a big mistake that can make things extremely difficult for your loved ones after you are gone. Surprisingly many celebrities do not have an estate plan in place. Estate planning mistakes can be quite costly, leading to court battles well after you are gone for surviving family members. Our Georgia estate planning attorneys will walk you through how to protect your assets and avoid making these celebrity estate planning mistakes.
DJ tWitch Died Without a Will.
DJ tWitch died recently without a will, leaving his wife to file a lawsuit in California court for half of her late husband’s estate. His widow is not asking for complete control over his estate but instead a selection of assets he left behind after committing suicide in December. Those assets include a Goldman Sachs investment account and a portion of his production company, Stephen Boss Productions.
Chadwick Boseman Estate to be Split
Another celebrity who died without a will was Chadwick Boseman. Boseman’s estate is going to be split between his widow and his parents. Because Boseman did not have estate planning documents in place, his family will not divide $2.3 million. Boseman’s widow, Taylor Simone Ledward, is in charge of his estate. Ledward requested that it be divided evenly between her and his parents.
Do Not Make The Same Mistakes as These Celebrities
An estate planning attorney can make a world of difference when getting your future in order. Just a handful of legal documents can protect you, your loved ones, your assets, and your entire estate upon your death. All you need to do is avoid the mistakes tWitch and Chadwick Boseman made prior to their deaths.
A Large Number of Americans Are Without an Estate Plan
A new survey has found that an estimated 67 percent of Americans do not have an estate plan in place. According to the survey, “They just haven’t gotten around to it, according to 40% of survey respondents. Meanwhile, 33% said they don’t have enough assets to pass on to their loved ones, 13% said the estate-planning process is too costly, and 12% said they do not know how to get a will.”
Protect Your Family and Assets
You can protect your family and assets by creating an estate plan with the help of a Georgia estate planning attorney. Make sure you bring the following documents to the meeting with the attorney:
The assets you have in your name
The names of the people you want to receive your assets
All life insurance policies and their beneficiaries
An updated financial statement
The deed to your home
Statements for savings accounts, retirement accounts, and checking accounts
A prenuptial agreement or marital agreement, if you have them
Copies of annuity contracts
You will have a lot of questions and concerns. Be sure to write all of them down before the consultation so you do not forget anything and they can be addressed. It does not take long to build an estate plan, which is why it is such a vital aspect of life. It should only take one or two meetings with your estate planning attorney to craft your will and sign all of the pertinent documents.
Call an Experienced Georgia Estate Planning Attorney Today
If you need assistance creating or revising your estate planning documents, Jammie Taire and the Smith Taire Legal team can help. We educate our clients on their estate planning options and make sure their final wishes are legally binding. Call us at 678-253-8133 if you have questions about your estate planning or wish to meet with an experienced Georgia estate planning attorney.