August 01, 2018 Substantive Law

Celebrity Estate Planning: Misfires of the Rich and Famous

By Jessica Galligan Goldsmith, Shaina S. Kamen, Christiana M. Lazo, David J. Posner, and Bruce D. Steiner

Reprinted with permission from Probate & Property, July/August 2018 (32:4) at 14-19. ©2018 by the American Bar Association. Reprinted with permission. All rights reserved. This information or any or portion thereof may not be copied or disseminated in any form or by any means or stored in an electronic database or retrieval system without the express written consent of the American Bar Association.

Like many ordinary individuals, celebrities often have outdated or nonexistent estate plans. Even when a celebrity has done careful estate planning and has well-drafted documents, changes in family circumstances or in the tax laws can create unexpected results. The estate plans of the celebrities discussed in this article, each selected to illustrate a different issue, offer useful lessons to estate planners and laypersons alike.

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