Oscar Winners Teach Five Lessons On Estate Planning

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Oscar Winners Teach Five Lessons On Estate Planning
The 2014 Oscars are complete. Trial & Heirs looks again at earlier Oscar winners like Philip Seymour Hoffman, Elizabeth Taylor, Heath Ledger, Frank Sinatra, and Marlon Brando. Their estates illustrate important estate planning lessons that everyone can benefit from — even those who aren’t going for walks the red carpet at the Oscars. 1. Philip Seymour Hoffman Estate Planning Lesson: You Can Be Creative With Your Will or Trust There were many mistakes and pitfalls with Philip Seymour Hoffman’s estate (including no estate tax planning and his failure to use a revocable dwelling trust, as we discuss in our article). But, Hoffman — whose portrayal of Capote earned him the Best Actor Oscar in 2006 — didn’t do everything wrong. He receives credit for a key component of estate planning that many people overlook: creative imagination. Estate planning is not meant to be “fill in the blank” or “one-size suits all.” You can use your will or trust to go together your goals, values and moral beliefs. Most people think wills and trusts Read more... The post Oscar Winners Teach Five Lessons On Estate Planning appeared first on Trial and Heirs Blog .