Lessons from the Rich and Famous

August 20, 2014 Hull & Hull LLP Uncategorized 0 Comments

In the aftermath of the death of beloved comedian Robin Williams, minds will at some point consider the actor’s legacy. Recent celebrity deaths, such as James Gandolfini or Philip Seymour Hoffman, have brought light to public interest in what happens to celebrities’ fortunes upon their death.

The news has faithfully followed some of the more sensational battles, such as that of Anna Nicole Smith, and the public thirst for it continues. Now, a cable channel has capitalized on television watchers who want to know what happened with some of the lesser-known celebrity estates.

Celebrity Legacies seeks to expose “how rich the famous actually were when they died and the surprising fortunes being made years after they’re gone”. It also outlines what claims were made and who got paid out in the end.

A review of the new show on Forbes.com, after its premiere August 5, used the opportunity to remind readers that these extraordinary cases can act as lessons for us all. Danielle and Andy Mayoras point out, in the article, how celebrities make the same mistakes in their estate planning as everyone else.

Regardless of whether leaving behind a modest or sizeable estate, disregarding heated subjects or substantial details can mean a world of difference in the administration of your estate after passing.

An interesting part of the show’s description is that it takes a look at how some celebrity’s fortunes have grown after their death. In the realm of arts and entertainment, payments like royalties can allow a substantial amount of money to be paid into an estate after the actor/musician/artist has passed. If the estate is profiting post-mortem, however, it can also lead to a significant amount of litigation.

Thank you for reading,

 Suzana Popovic-Montag

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