Monday, December 10, 2012

Celebrity Estate Planning goes awry Pt. 4

Whether famous or just regular folks, we are reminded by the following anecdote that a few extra steps in your estate planning will deliver on your intentions.

Sonny Bono

A former musician, TV show host, and politician, Sonny Bono was a busy manapparently too busy to write a will before his untimely death in a skiing accident at age 62. However, it turned out that he wasn’t too busy to secretly father a child out of wedlock who surfaced after Bono's death to claim part of his estate along with ex-wife Cher. 
A life's lesson here: We have no idea how much longer we have to live, so don’t procrastinate. Write a will, especially if you have a complex family situation.  Allocate some time now, so you can avoid the messy aftermath from inadequate planning like Salvatore Phillip “SONNY” BONO.

Call me, let's get you started on a long term estate plan that won't leave loose ends for your heirs.

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