Ivana Trump: Her whopping fortune is going…where?

It looks like Ivana Trump REALLY didn’t like her ex-husband, Donald Trump. 

Trump, after all, gets nothing in his ex-wife’s Last Will and isn’t entitled to any of the $34 million fortune that was left behind. The 73-year-old, who passed away in July of 2022, was a rags-from-riches story. Hailing from Czechoslovakia, she definitely didn’t come from wealth. That all changed when she moved to Canada. She (as did many others) was able to scrape out of poverty by hitting it big in the West. She became known as a model and had a reputation as a talented skier. After she met Donald Trump, she began working for his organization, putting in several hours of overtime work as an interior designer. She was personally involved in the interior design of her husband’s Trump Tower in New York City. 

After the divorce to the famous real estate and business mogul, Ivana walked away with a whopping $14 million dollars from the marriage in the early 1990’s. This was in addition to the other perks: $650,000 a year in alimony, child support to raise their three children, and  a mansion in Connecticut and an apartment on the Upper East Side, New York. Ivana Trump definitely didn’t wind up destitute and walked away a winner.  

In her Last Will and Testament, Ivana directed her $34 million-dollar fortune to go to her friends, family (her children) and even her old nanny (who acquired $1 million-dollars from the Will). Her clothing (fancy furs and expensive dresses) were all bequeathed to the Salvation Army. Ivana Trump’s  Upper East Condo, her property in France, and her other property in Czechoslovakia, are all bequeathed to her children. 

A real rags-to-riches story!

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Seven tips for leaving behind money in your Will

Inheritance can be a tricky issue. Leaving behind money for your loved ones can be a great way to ensure that they are taken care of after you are gone. However, there are several important things to consider when planning your inheritance. Here are our top seven tips: 

    1. Make a Will: The most important step in leaving behind a set amount of money is to make a Will. This ensures your assets are distributed according to your wishes.
    2. Review your Will regularly: Your Will should be reviewed consistently to make certain that it reflects your current wishes and that it complies with local laws. 
    3. Consider creating a trust: Trusts can be a great way to protect your assets. A Trust is a written document providing that property be held by one (the “trustee”) for the benefit of another (the “beneficiary”). 
    4. Communicate with your loved ones: It is important to communicate with your loved ones about your plans. This will help to avoid confusion and disputes after you are gone.
    5. Consider tax implications: Your inheritance may be subject to taxes. It is important to consider this when making plans.
    6. Review your beneficiaries: Make sure that your current beneficiaries are up-to-date. Also be sure to name backup beneficiaries in case one of your primary beneficiaries predeceases you.
    7. Review your insurance policies: Make sure that your insurance policies are up-to-date and that they provide adequate coverage for your loved ones.

Leaving behind an inheritance for your loved ones is an important step in ensuring that they are taken care of after you are gone. However, there are several important things to consider when planning your inheritance, such as creating a Will, communicating with your loved ones, and consider the tax implications. Follow these tips to  ensure that your money is properly distributed. Do you need more tips? Checkout our Knowledge Centre for more information.. 

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Marie Osmond on her inheritance: is this surprising?

There are celebrities out there who aren’t leaving anything to their children when they die. From actors to other celebrities, many are opting to leave everything to various charities when they pass away. Celebrity Marie Osmond is no different; with seven children (all of whom no doubt have great connections and resources to draw from), Osmond is ensuring that her wealth goes to charity and that her children all rely on themselves to make their own money (they should have no problem doing that). In an article, Osmond states: “Honestly, why would you enable your child to not try to be something? I don’t know anybody who becomes anything if they’re just handed money.” We have seen this in the past when a 41-year-old man unsuccessfully sued his mother for an early inheritance.

Excessive wealth can breed laziness, if the inheritance is the only thing a person relies upon. We have seen people in court squabble over getting inheritances and money. Money can also open doors and connect people to others with vast resources. If used correctly, leaving an inheritance behind can also garner opportunities. Osmond’s fortune is roughly around $20 million dollars. She hasn’t specifically indicated as to which charities will be getting her fortune, but there are a plethora of charities to choose from. Best of luck to Marie and her children, who will no doubt do just fine, with or without her money.

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The top 10 shocking cases of celebrities who didn’t have Wills

When it comes to estate planning, many celebrities opt to leave behind a Will to ensure their assets are distributed according to their wishes. However, there have been several high-profile cases where famous individuals did not leave behind a Will. This has caused chaos and confusion for their loved ones. Would you have suspected some of these celebrities not being prepared, and not having Wills in place?

Here are 10 celebrities who did not leave behind a Will:

    1. Prince: When the musician died in 2016, his family and loved ones fought a legal battle in court over his multi-million dollar estate between his siblings.
    2. Heath Ledger: The actor passed away in 2008 without a Will. His daughter’s guardianship and financial support were determined by the court.
    3. Jimi Hendrix: The legendary musician died in 1970 without a Will, which lead to a lengthy legal battle over his estate.
    4. Bob Marley: The iconic reggae musician died in 1981. No Will. His family battled it out in court over his assets.
    5. Martin Luther King Jr.: The civil rights leader did not leave behind a Will. His wife and children fought in court over his estate and assets. Would you have suspected him to not have a Last Will? 
    6. Jim Morrison: The Doors frontman passed away in 1971, which (you guessed it) lead to a legal dispute over his assets.
    7. Bruce Lee: The martial arts legend died in 1973 before he could create a Will. His wife and children wrestled over his assets and estate in court. Seems like there are a lot of wives pitted against their children.
    8. Janis Joplin: The singer died in 1970. No legal documentation was found. This lead to (you guessed it!) a legal dispute.
    9. James Dean: The actor, who passed away in 1955, did not leave behind a Will. His father took control of his estate (well, that one is different than the others!) Is that what he wanted?
    10. Jimi Hendrix: The musician passed away in 1970 without leaving a Will, leading to yet another court battle.

 

It’s important to note that not having a Will can have major consequences for the distribution of assets, and to the care of children and other dependents. It can also lead to disputes and legal battles among loved ones. These examples of celebrities who did not leave behind a Will serve as a vital reminder of the importance of a Will.

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