Celebrity lessons in estate planning, P.1

The mistakes of others can often be instructive for our own situations. This is true in many areas of life, and estate planning is no exception. In some cases where we can learn from other people's estate planning mistakes, it may be a matter which is very specific and technical in nature. Oftentimes, though, we learn simpler lessons.

These include things like avoiding procrastination, being sure to update one's estate planning documents, and appointing people to make medical and financial decisions for us in the event we become incapacitated.

A lesson in procrastination would the sudden death of Steig Larsson, author of Girl With The Dragon Tattoo, the movie adaptation of which was recently released. Larsson died without a will, which gave rise to a lawsuit between his girlfriend of 32 years and other family members over his estate. Because of his failure to plan, he didn't get to decide where his estate will go, and he left quite a mess to clean up.

Our readers may have heard of the death of the late rhythm and blues singer Etta James last week. The 72-year-old James died at the age of 72 after struggling with leukemia, dementia and other medical problems.

James-who had two adult sons from prior relationships-reportedly gave one of them power of attorney, but her late husband challenged it since, according to him, it was signed after she already had dementia. The situation resulted in a lawsuit over who would control James' financial and medical decisions. Luckily, that case recently ended in a settlement, but not after much battling in court.

The elderly aren't the only ones who should appoint a power of attorney, though. Young people should also have them and keep them updated. Having these documents ready has prevented many a family fight and can saves numerous other troubles later on.

Source: Forbes, "Etta James, Others Remind of Need for Estate Planning in 2012," January 24, 2012.

No Comments

Leave a comment
Comment Information

Mr. Teiger, Thank you very much for your time and results. I will definitely recommend you & your firm to anyone who wants to be treated professionally courteously and needs results.Hope all is well.Again...thank you. Regards, Paul L.

msg iconEmail Us For a Response

When you have legal questions or concerns, contact our team at Teiger Law Center, P.C., by calling 678-374-7645, 800-780-2275 or reach us via email by completing our online contact form. From our Cumming and Alpharetta law offices, we represent clients in the Atlanta metro and throughout north Georgia.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Cumming Office
514 West Maple Street
Suite 101
Cumming, GA 30040

Toll Free: 866-726-2153
Phone: 678-374-7645
Fax: 770-406-8858
Cumming Law Office Map

Alpharetta Office
12600 Deerfield Parkway, Suite 100
Alpharetta, GA 30004

Toll Free: 800-780-2275
Phone: 678-374-7645
Fax: 770-406-8858
Map & Directions