Celebrities often have thousands of fans in California and beyond who try to stay updated on every facet of their private and professional lives. Sometimes, a celebrity might request privacy, especially when dealing with family issues, such as divorce. The average person can sometimes learn a life lesson or two from observing what happens to their favorite music stars, actors or sports figures. For instance, knowing the complicated issues that arose for a group of celebrities who died without proper estate planning might inspire people to execute a last will and testament early in life.
Michael Jackson’s story serves as a reminder that estate planning is not always effective if it is not done in a thorough and proper manner. Jackson created a trust fund before he died. However, when a trust is created, the person who has initiated it must fund it. In Jackson’s case, he failed to do so before his sudden and untimely death. Therefore, none of the assets from his $600 million estate were incorporated into the trust.
Family disputes arose regarding Florence Griffith Joyner’s estate planning
Track and field enthusiasts and the entire sports industry mourned the loss of Florence Griffith Joyner, who passed away suddenly at age 38 after suffering an epileptic seizure while sleeping. Sadly, Joyner’s estate planning process did not include informing her beneficiaries (including her own spouse) as to the location of her will. When the time came to administer her estate, they could not find it, which resulted in a family dispute between her mother and her spouse.
Execute a solid plan and keep it updated
It is best to seek experienced support to assist in the California estate planning process. An attorney who practices in this field can ensure that a client has incorporated all documents that fit his or her needs. The attorney can also periodically review a client’s plan to check whether any deletions, additions or updates are needed, which can help loved ones avoid some of the problems the families of celebrities mentioned in this post have experienced.