Attorney-CPA Joe Cordell and co-host Susan Arthur break down the mistakes that notable individuals have made in their estate plans. For example, former Supreme Court Justice Warren Burger did his own estate planning and left out provisions that ended up costing his loved ones. Doris Duke was not discerning in her choice of executor and trustee when she was estate planning, costing the charities that she wanted to help significant amounts of money.
Florence Griffith Joyner did not inform her family where her estate documents were located, making it so her probate took four years to close. Michael Jackson never fully funded his trust, leading to public fights, probate courts and more.
Joe and Susan highlight how important it is to have a lawyer that understands estate law and avoid the mistakes that others have made. Additionally, Joe highlights how trusts can reduce the challenges and risks that many who utilize wills may come across.
