A cautionary tale about Wills and Estate Planning from the late Larry King
The world was saddened by the news of Larry King’s passing on January 23, 2021. Known for his unique interviewing style and his ability to connect with people from all walks of life, Larry King was a broadcasting legend who left an indelible mark on the world of journalism.
However, beyond his public times and had five children, which could complicate matters in terms of inheritance. However, given his wealth and fame, it is likely that King took the necessary steps to ensure that his estate was properly planned and managed.
Estate planning is not just for the wealthy, however. It is important for everyone to have an estate plan in place, regardless of their wealth or status. Without an estate plan, one’s assets and wealth can be subject to probate, which can be a long and costly process for one’s heirs.
In the case of Larry King, it is not yet clear what his estate plan entailed, or how his assets will be distributed among his heirs. However, his passing serves as a reminder of the importance of estate planning, and the peace of mind that it can provide to one’s loved ones.
King left behind a Last Will and a bit of a conundrum; the man who was married eight times, who left behind five children AND four great-grandchildren, inevitably created a bit of a mess for his inheritors. Communication and openness is extremely important for anybody who is planning for their estate, but this is particularly true for Larry King, who had made changes to his “airtight” Last Will. Read more by clicking on the link below: Lessons from the late Larry King on Estate Planning. King was also a private individual who had a family and personal life outside of his work. Like many public figures, King’s passing brought to light questions about his estate and inheritance.