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Estate Planning Errors Plague Even Celebrities

When people in Greensboro, North Carolina make a last will and testament as part of an estate plan, they typically do so after seeking the advice of an experienced estate planning attorney. It seems natural to consult a lawyer when you have questions about inheritances, but not everybody does this. In fact, even some of the most well-known celebrities can fail to find, or heed, qualified legal advice when it comes to estate planning. Here are some of the more famous examples.

Quarterback Steve McNair

When former Tennessee Titans quarterback Steve McNair died in 2009, he left behind a large estate but he had done no estate planning. When he died, he died intestate and left a sizable estate that had to pay a sizable estate tax bill. Additional problems also arose when the estate began charging McNair’s mother for living in the home he had purchased for her. Though McNair had purchased it for her, the title was in McNair’s name and it remained part of the estate after he died.

Entertainer Sammy Davis Jr.

The quintessential showman, Sammy Davis Jr. died in 1990, leaving behind a legacy as a beloved entertainer. Though he created a will that left generous gifts to numerous people, he died leaving behind an insolvent estate. With more debts than assets, his estate didn’t have enough to pay for the large tax bill, much less give out inheritances to his friends and family.

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