Celebrity Estates: Wills of the Rich and Famous

Sponsored by: Nationwide Advisory You can have everything planned out, accounted for, and your family members will still find something to fight over once you are gone.  In this episode of Dead Celebrity, by Informa WealthManagement.com, David Lenok and Avi Kestenbaum discuss the estate plan of beloved comedian and Oscar-winning actor Robin Williams. As you’ll soon find out, even the best of estate plans and legal advice can be a recipe for disaster when you have children from different marriages and a surviving spouse. In this episode, you will learn: The role of trusts  The importance of preparing the proper documents Why it’s crucial to update your information as your life changes  How some people can be worth more once they are deceased Whether David and Avi would consider Robin Williams’ estate plan to have been successful And more! Tune in and find out what went down in Robin Williams’ estate in this episode of Dead Celebrity! Resources: WealthManagement.com | Meltzer, Lippe, Goldstein & Breitstone, LLP Sponsored by: Nationwide Advisory

The loss of capacity is a very real threat to all clients, particularly those who are getting older. If your client were to show signs of cognitive impairment, would you know how to proceed with their estate planning? In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Letha McDowell, a shareholder of Hook Law Center. Together, they explore the controversial estate plan, a product of highly questionable decisions, of legendary actor and Hollywood icon Marlon Brando. This is a conversation that uncovers the benefits of completing a power of attorney,  signs of diminishing capacity to watch for, and the importance of knowing your clients.  In this episode, you will learn: Signs an advisor can look for to determine whether their clients are experiencing some loss of capacity How to broach the subject with a client who you think is in the early stages of cognitive impairment The importance of continuing to serve the client with the respect they deserve Why a power of attorney can be useful for people of all ages and capacities  And more! Tune in now and learn how to serve your clients with the highest level of expertise and dignity throughout the estate planning process.  Resources:  WealthManagement.com | Hook Law Center | Reporting Elder Abuse USA| Reporting Elder Abuse Canada  

In this insightful discussion, Geoff Madsen, CEO of Independent Trust Company and a fifth-generation trust beneficiary, delves into the often-hidden world of celebrity estates. He explains how trusts protect wealth and maintain privacy, debunks myths about probate, and outlines the various advantages of using trusts for family legacy preservation. Discover how trusts can incentivize heirs and the crucial importance of proper funding. Geoff also highlights the benefits of professional trustees over relatives, sharing lessons from high-profile cases like Michael Jackson's.

Sponsored By: FS Investments Do you have co-owned assets, similar to how the three members of Beastie Boys co-own their music? In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Jacqueline Bevilaqua, associate at Katsky Korins, about what was done correctly and incorrectly in the estate plan of rapper Adam Yauch ( ⅓ of Beastie Boys). As they examine Adam Yauch’s estate,  David and Jacqueline discuss how to delicately manage the challenges that often come with high-net-worth clients and what steps need to be taken before incorporating copyright into a will. In this episode, you will learn: Possible reasons why a copyright clause made it into Adam Yauch’s will, despite him being a co-owner of his artistic property  How to work with strong-willed clients who insist on using their will to make a public statement What to consider when incorporating copyright into a client’s will What it means to help your clients “play the tape through” when they’re appointing guardianship — and why it’s important And more! Tune in now and know that you are the one who can “fight for the right” to protect your clients after death. Resources:  WealthManagement.com | Katsky Korins | jbevilaqua@katskykorins.com

In this conversation, Michelle Smith, a Certified Divorce Financial Analyst and founder of Source Financial Advisors, dives into the evolving landscape of women's finances. She emphasizes the importance of clear communication and emotional intelligence when advising female clients. The discussion highlights common financial pitfalls in marriage and the necessity of transparency. Michelle also advocates for the need to adapt conversations around money, focusing on cash flow and lifestyle priorities, especially after major life changes.

Megan Gorman, the founding partner of Chequers Financial Management, returns to delve into the complexities of estate planning, using Tom Petty's case as a spotlight. They discuss the pitfalls of vague terms like 'equal' in trusts and the challenges of engaging clients on estate matters. Megan emphasizes the necessity of precise language to avoid disputes, especially in blended families. They also reflect on the importance of ongoing estate assessments and the advisor's role in navigating these issues, while drawing insights from other celebrity estates.

Join Dr. Stanley Teitelbaum, a seasoned clinical psychologist with over 35 years of experience, as he unpacks the contentious legacy of Joan Crawford. Explore the intriguing psychology behind her decision to exclude her children from her estate. Dr. Teitelbaum reveals how emotions like resentment can lead to disinheritance. He discusses the importance of addressing family dynamics and offers insights on the role of mental health professionals in estate planning conversations. Discover practical solutions for navigating these complex issues.

Have you considered what would happen to your pet if something happened to you? Do you want to ensure that your family friend is taken care of after you’re gone?   This episode will open your mind to the options available to you and your pet. In episode three of Dead Celebrity, by Informa WealthManagement.com, David Lenok is joined by Megan Gorman of Chequers Financial Management. They speculate on the unreleased details of world-famous fashion designer Karl Lagerfeld’s estate plan and how he may have provided for his beloved cat, Choupette. Throughout the episode, you will hear examples of how your pet can be cared for after you’re gone. In this episode, you will learn: About the background on Karl Lagerfeld and his cat How to use your estate plan to provide for your pet Which options are available for ensuring your pet’s care, including trusts The importance of picking the right guardian for your pet And more! If your dog/cat is your best friend, your child, your furbaby then you need to listen to this podcast. Resources: Wealthmanagement.com | Chequers Financial Management | The Wealth Intersection  

You can have everything planned out, accounted for, and your family members will still find something to fight over once you are gone. In this episode of Dead Celebrity, by Informa WealthManagement.com, David Lenok and Avi Kestenbaum discuss the estate plan of beloved comedian and Oscar-winning actor Robin Williams. As you’ll soon find out, even the best of estate plans and legal advice can be a recipe for disaster when you have children from different marriages and a surviving spouse. In this episode, you will learn: The role of trusts The importance of preparing the proper documents Why it’s crucial to update your information as your life changes How some people can be worth more once they are deceased Whether David and Avi would consider Robin Williams’ estate plan to have been successful And more! Tune in and find out what went down in Robin Williams’ estate in this episode of Dead Celebrity! Resources: WealthManagement.com | Meltzer, Lippe, Goldstein & Breitstone, LLP

Are you that person who thinks, “I don’t need to do that paperwork today. It can wait”?  Do you think it’s unnecessary to plan out your final wishes and make sure your estate plan is in order? In this inaugural episode of Dead Celebrity, by Informa WealthManagement.com, we learn lessons from the life and death of celebrity Casey Kasem. Jim Dougherty from Withers Worldwide discusses the pitfalls of not being prepared when you either pass suddenly or become incapacitated. In this episode, you will learn: The basic background of the Kasem family The importance of preparing the proper documents Why it’s crucial to update your information as your life changes What can go wrong when family members are not on the same page And more! Learn about the issues faced by the Kasem family and why blended families can be difficult to manage in this episode of Dead Celebrity! Resources: WealthManagement.com | withersworldwide