ESTATE PLANNING FOR MILLIONAIRES
I admit it. I subscribe to US Weekly. I’ll even confess that nothing seems to lull me into such a relaxed a state of bliss as those cheap, glossy pages. I feel a little guilty that I take such joy in reading about the trials and tribulations of people more glamorous and wealthy than me. But really, it is a fundamental part of our nature to revel in such things. What could be more deliciously, awkwardly visceral than Schadenfreude?
But I have my limits. I prefer intrigue to tragedy; romantic mishaps over illness or death. We often learn from gawking at the misfortunes of others, such as how to behave, when to use a paper shredder and what not to wear. For some, reading about the bad diets and cruel divorces of the rich and famous inspires better choices in one's own life. This public-service element was surely the motivation behind "Trial & Heirs: Famous Fortune Fights!", a new book by Danielle and Andrew Mayoras ("legacy expert attorneys"), which "not only chronicles some of the most highly publicised will and estate battles of several recently deceased
celebrities, it also offers expert advice to help anyone, celebs and non-celebs alike, to avoid similar problems with their estate and will planning," according to a press release delivered to the More Intelligent Life desk today.
Naturally, the book offers advice we can all use:
• Make sure you don't set up a trust for your loved ones to keep your affairs private, only to let the plan fail because the trust wasn’t funded... like Michael Jackson.
• Try not to write instructions that promise property worth millions to your cherished godchildren, only to have those wishes completely ignored and kept secret... like Princess Diana.
• Take care not to leave a substantial legacy from a brilliant musical career, only to have your family wage a lengthy legal battle over it nearly 40 years after your death... like Jimi Hendrix.
Who figured out this genius angle for an estate-planning book? I can just imagine the book proposal: "I believe there is a sizable market of drug-addicted, co-dependent celebutants with millions at their disposal who are interested in sensible estate planning before they accidentally die of a heart attack at the age of 30."
"Trial & Heirs: Famous Fortune Fights!", by Danielle and Andrew Mayoras, out now
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