Sometimes a celebrity's work while they are alive becomes just as notable as the feuds that arise over claims to their estate. Prime examples of massive legal battles over celebrity estate administration are ones involving Jerry Garcia, Brooke Astor and Anna Nicole Smith. While these legal affairs may just seem like something to fill the tabloids, there are some very valuable lessons Los Angeles residents can take away from these cases.
Most of the time high-profile estate battles arise out of several marriages with several children. When this happens, everyone connected with the celebrity believes they are entitled to their fair share of the estate. Anna Nicole Smith's case, which involved multiple marriages and children, led to the longest round of estate litigation in the last century.
Realistically, disputes over family estates aren't always over several millions of dollars worth of assets. Disputes arise when loved ones do not make their intentions clear through estate planning. In many cases, families fight over who will own their parent's home or who will take possession of a prized family heirloom.
In some cases, appointing an independent trustee or fiduciary responsible for assets and property is the best option. That way, there will not be any emotional ties to what is being split up. When people have a personal stake in managing an estate, they may not act fairly when administering the estate.
Settling an estate does not have to create animosity in the wake of someone's death. Rather, it should be about preserving someone's legacy. The years of litigation that celebrity estates have been involved in teach us just that. When a person makes their intentions clear, there are no lingering questions about what they want. Estate planning is one of the most practical steps a person can take.
Source: Reuters, "The big lessons from celebrity estate wars," Amy Feldman, Jan. 26, 2012












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