Tag Archives: celebrity

LA Times article about estate planning

The business section of Sunday’s Los Angeles Times featured an article called “Time to prepare your will”.  Discussing the importance of estate planning, the article included quotes from both of us.  Here’s a few selections from the article:

If you’re rich, the best estate planning advice would be to die quickly. If you’re not, the best advice is to either review or rewrite your estate planning documents to make sure your heirs aren’t left high and dry if you die.


FOR THE RECORD: The Personal Finance column about estate planning in Sunday’s Business section misidentified the book “Trial & Heirs: Famous Fortune Fights!” by Andrew W. Mayoras and Danielle B. Mayoras as “Trial & Errors: Famous Fortune Fights.” 


That’s because estate taxes that could allow Uncle Sam to nab up to 45% of your bequeathed assets are currently — and very temporarily — kaput. 

A decade-long phase-out of the estate tax eliminated the tax completely as of January. The catch: If nothing’s done, estate taxes will boomerang back to historic

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Hearst Family Legal Battle Teaches Important Lessons

CNN and Fortune Magazine recently featured a fascinating article about the legal battle between John Randloph “Bunky” Hearst, Jr., and his ex-wife.  Bunky is one of the grandsons of famed media mogul William Randolph Hearst, who left behind the powerful Hearst Corp.

William Randolph Hearst died in 1951 with a trust and estate worth about $400 million in today’s dollars.  But, more importantly, his trust established a corporate framework that enabled his board of trustees to expand the Hearst holdings into a multi-billion dollar media empire, owning hundreds of magazines, newspapers, television stations, 20% of ESPN,Bunky_barbara_hearst and more.  Here is the wikipedia page about Hearst Corp. that overviews how expansive it is.

William Randolph Hearst’s estate plan is a great example of how trusts can be used to maximize financial legacies and protect your heirs.  While most people don’t have to establish complicated boards to manage extensive business holdings like Hearst, everyone can learn a lesson here.

Livings trusts are the best way to pass along assets (be they vast

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New Book To Help Avoid Celebrity Estate Planning Blunders

“Trial & Heirs: Famous Fortune Fights!” Explores High-Profile Cases & Offers Expert Advice

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The highly publicized estate battles of several deceased celebrities have cast a bright spotlight on the importance of having the proper estate planning. Although mega-rich celebrities seem to be affected overwhelmingly by these brutal family squabbles, the new book

“Trial & Heirs: Famous Fortune Fights!” is designed to help every family, regardless of income level, avoid the financial pitfalls that drained bank accounts and created huge family rifts for the dozens of superstars profiled in the book.

“Trial & Heirs” uses real stories to help readers steer clear of the same celebrity “estate errors” as they plan for their own “heirs.” The stories cover well known legal fights over famous fortunes: including the recent battles over Michael Jackson’s estate, along with other celebrities like Ted Kennedy; Anna Nicole Smith; Brooke Astor; Heath Ledger, Ray Charles; Princess Di; Jimi Hendrix; Frank Sinatra; Martin Luther King Jr.; and Rosa Parks… as well as many others that most people aren’t

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