In an interesting article, Fox Business delved into the “Monumental Estate Planning Blunders of 5 Celebrities.” The piece looks at estate planning mistakes made from some well-known, now-deceased stars who’s estate ended up out of their hands.
Leona Helmsley, widow of real estate tycoon Harry Helmsely, famously left a $12 million dollar trust to her dog, Trouble. Ultimately, this only served to cause trouble for her estate, since she simultaneously added the pup to her estate plan while nixing two of her own grandchildren. Because of the oddity of these actions, a judge awarded $6 million to each of the disinherited relatives and reduced Trouble’s trust to a measly $2 million. Read more.