It is an open secret that celebrities spend millions of dollars annually to keep their image in the public eye. However, it is surprising that many forget to take adequate steps to legally protect their assets and properties with a trust attorney. It is incredible to note that many among the wealthy have passed on without creating celebrity will or trust in their name, while others have left their assets in chaos for their heirs.
Here, we will look at three famous probate cases of celebrities who died without a wil or overcomplicated their legal matters.
Wills Of The Rich And Famous
Tom Carvel
Ton Cavel is the inventor of the soft-serve ice cream, one of the first to start a food franchise chain in America. Carvel was worth $200 million at the time of his passing in 1990. While he did leave a will and trust to care for this family, he complicated matters by naming seven executors for his will. These executors had financial stakes in the Carvels fortune, leading to long drawn in-fighting and millions spent in legal expenses. Tragically, Carvel’s wife passed away before the disputes could be settled, with no access to her fortune.
In a classic case of too many cooks spoiling the broth, this celebrity will was driven to chaos due to multiple executors.
Jimi Hendrix
Jimi Hendrix tragically passed away at the young age of 27, leaving no celebrity will behind. However, he did have several relatives, executives in the music industry, and business associates who were clamoring to own a part of his estate- which included his intellectual property and assets he left behind, all of which continue to make money to this day. Without a will in place, his lawyer managed his estate for the first 20 years after Jimmy's death, after which Hendrix’s father, Al Hendrix, successfully sued for control over the estate. But Al’s attempt to leave the estate led to a damaging probate battle.
The lack of a celebrity will or trust led to a messy probate battle within the Hendrix family, with no end in sight. This case highlights why it’s important for celebrities to have a will right from the start.
Prince
The fight over Prince's estate and his assets is an ongoing famous probate case caused by the lack of will. The legendary pop icon passed away in early 2016, leaving behind no celebrity wills or trust to protect his estates. This was due to legal battles in the past that left him severely distrustful of the legal system. However, this misstep and distrust have caused a lot of trouble and chaos for his heirs and executors. Currently, Prince's intellectual property and estates are wrapped up in costly legal battles, with no resolution in sight.
With Prince’s case, we see that it's crucial to have appropriate legal documents that protect the legacy of a celebrity. Celebrity wills are extremely complex, with several nuances involved. Therefore, working with the right attorney is crucial when drafting a will.
What Can You Do To Prevent Such Legal Disasters?
The disasters with these celebrity wills prove that nobody's wealth is safe without proper legal protection and estate planning. We, at Miller Law Firm, PC, are certified experts in protecting intellectual property rights and estate planning.
We provide our services in and around:
- King of Prussia, PA
- Lebanon, PA
- Lancaster, PA
- Reading, PA
Contact us today to learn more.