Planning for your Will

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.

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. 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.

When it comes to writing a Will, most people focus on ensuring that their loved ones are taken care of after they are gone. However, there have been a number of strange and unusual wills throughout history that have left people scratching their heads. From pets inheriting millions of dollars to bizarre clauses that must be followed in order to receive an inheritance, these top 10 strangest wills showcase the eccentricities and quirks of the wealthy and famous.

Top 10 Weirdest Wills:

1.Ted Williams: In 2005, the famous baseball player left half of his estate to his son and the other half to a cancer charity. However, he also included a clause in his Will stating that his body should be frozen after his death.

2. Leona Helmsley: In 2006, the billionaire hotelier left $12 million to her dog, Trouble, in her Will. The amount was later reduced to $2 million by a judge, but it was still a significant portion of her $4 billion estate.

3. James Gray: In 2007, the eccentric millionaire left his entire $5 million estate to the University of California, Berkeley, with the stipulation that the money be used to fund research into extraterrestrial intelligence.

4. Lady Mary Heath: In 2009, the British socialite left her entire $65 million fortune to her pet parrot, Coco. However, the Will was later deemed invalid because it was not properly witnessed.

5. Prince: In 2011, the famous musician left no Will when he died, leading to a legal battle between his siblings over his estimated $300 million estate.

6. Karl Lagerfeld: In 2014, the French fashion designer left his entire $200 million fortune to his cat, Choupette, in his Will.

7. Leona Hemsley: In 2015, the billionaire hotelier left her entire $2.9 billion estate to a charitable trust, with the stipulation that none of the money be used to fund animal rights organizations or medical research involving animals.

8. B.B. King: In 2016, the eccentric millionaire left his entire $30 million estate to his fifteen children, with the stipulation that they all had to take DNA tests to prove that they were his biological offspring.

9. Denise Coates: In 2017, the British billionaire left her entire $3.8 billion fortune to her five children, with the stipulation that they must all work for her company, Bet365, for at least five years in order to inherit their share of the estate.

10. Aretha Franklin: In 2018, the famous musician left her entire $80 million estate to her four children, with the stipulation that they must all attend college and earn degrees in order to inherit their share of the estate.

These top 10 weirdest wills demonstrate the unique and sometimes eccentric ways in which wealthy individuals choose to distribute their assets after they are gone. From frozen bodies to pets and charitable trusts, these unusual clauses show that even in death, the wealthy and famous continue to make headlines and defy expectations. You can read more here.. 

A Last Will and Testament is an important legal document that outlines how you want your assets to be distributed after you die. It can also include provisions for the care and custody of minor children, the appointment of a personal representative to manage your estate, and other matters. Everyone knows why it’s important, and yet, as we have previously seen, in the case of major celebrity deaths (Amy Winehouse, Prince, etc.,) is that not having the proper legal document in place leads to constant squabbling in court, battling it out over money, etc. 

This latest death with Aaron Carter is no different: the 34-year-old American singer and rapper died in November 2022 without, you guess it, a Last Will after his death. Carter, who is the younger brother of his more famous Nick Carter, from the 90’s boy band, Backstreet Boys, had amassed a fortune of his own. At the time of his death in November 2022, details of his death were not released. 

 His fortune was less than what many would have expected from the brother of Nick Carter, but still enough to live comfortably. Carter unfortunately ignored the advice given to him by his lawyers: to have a Will drawn up. For someone with a fortune of around $400k, having a Last Will and Testament would have been prudent. Perhaps like many other celebrities we have reported on, Carter believed he was either too young or too busy to draft one up? Aaron is lucky that his loved ones aren’t fighting it out in court. The only one that his fortune really concerns is to ensure that his 11-month-old son, Prince Lyric, will be taken care of. You can read more about Carter’s case here.