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  • Home
  • About Us
    • Gratia Schoemakers
      • Community Outreach Program
    • Testimonials
  • Virtual Services
  • Estate Planning
    • Estate Planning Basics
    • Last Will and Testament
    • Revocable Living Trusts
    • Durable Power of Attorney
    • Medical Power of Attorney
    • Living Will
    • Family Estate Planning
    • LGBTQ Estate Planning & Asset Protection
    • Kids Safety Plan™
    • Business Succession Planning
    • Guardianship
      • Guardianship Planning
    • Special Needs Planning
    • Legacy Preservation Planning
    • Asset Protection
    • Trusts
    • Pet Trusts
    • Gun Trusts
  • Probate
    • Texas Probate Guide
    • Probate of a Will
    • Texas Affidavit of Heirship
    • Texas Small Estate Affidavit
    • Texas Heirship Determination
    • Texas Muniment of Title
    • Trust Administration
  • Family Law
    • Divorce
    • Collaborative Divorce
    • Mediation
    • Custody / Visitation
  • Blog
  • FAQs
    • FAQs – Videos
    • FAQs – Estate Planning
    • FAQs – Beyond Money in Estate Planning
    • FAQs – Divorce and Estate Planning FAQs and Myths
    • FAQs – Estate Planning for Newlyweds Myths and FAQs
    • FAQs – Estate Planning for Young Adults
    • FAQs – The Estate Planning Cast of Characters
    • FAQs – Expecting an Inheritance
    • FAQs – Myths and FAQs – Planning for Conflict Prone Families
    • FAQs – New and Expanding Families
    • FAQs – Pet Trusts
    • FAQs – Probate
    • FAQs – Standalone Retirement Trust Myths and FAQs
    • FAQs – Trust Modifications
    • FAQs – Unwinding Obsolete Planning
    • FAQs – Why You Want to Avoid Probate
    • FAQs – Year-End Planning Myths and FAQs
  • Contact
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3 Mega-Celebrities Who Died Without a Will: Do Not Follow in Their Footsteps!

September 20, 2016 By Gratia P. Schoemakers, Esq.

A will documents who gets what (and when) after you die. Without a will, state law doles out your belongings. In many cases, your assets may end up in the hands of complete strangers.  That’s exactly what happened to these three mega-celebrities:

  1. James Dean. Dean died intestate (without a will) in 1955 at the age of 24. State law awarded most of his meager estate (he had only made three movies) to his father – now most of that is in the hands of his father’s relatives.

His father did use some of that money to create a foundation to maximize the commercial value of his name, likeliness, and image. Ironically, Dean has consistently been one of the top 10 highest earning deceased celebrities up until 2012. His income in 2015 alone was $8.5 million and he’s been deceased for over 60 years!

  1. Jimi Hendrix. Legendary singer and guitarist Jimi Hendrix died intestate in 1970 at the age of 27. Like Dean, the state awarded most of his estate to his father who created a family trust.

By 2002, his father had grown trust to $80 million. Jimi’s father left the fortune to his adopted daughter. In turn, she created trusts for almost everyone in the family – except Jimi’s own brother Leon. Although he sued, he never got a dime of the estate now worth $175 million. Clearly there’s another story there.

  1. Pablo Picasso. Famous painter Pablo Picasso died intestate in 1973 at the age of 91. Given his age, it’s surprising that he did not assign a beneficiary to his estate (which today would have been valued at nearly $200 million).

His heirs, including Paloma Picasso, battled in courts with everyone who wanted part of his fortune – including the French government who alleged that Picasso owed millions in back taxes. His children received the bulk of his estate in the end, but not without a great deal of heartache.

Despite the differences in age, the above celebrities left millions of dollars on the table and started an avalanche of lawsuits by those who wanted a piece of the pie. The takeaway? Do not follow in their footsteps!

Make Your Intentions Crystal Clear in a Will or Trust

Regardless of whether you’re a famous actor, singer or painter – or a regular working Joe or Jane, you have the power to make sure that your family, friends, or organizations get what you want them to have. The process is simple – make your intentions crystal clear by creating a will or other form of estate planning tool such as a trust drafted by an experienced attorney.

Call our office today to find out what you need to do to protect and provide those you choose and get a will in place.

Filed Under: Estate Planning Tagged With: Celebrities, Dying Intestate, Mistakes, No Will

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