Wednesday, February 14, 2007

If Anna Nicole Smith's Death Teaches Us One Thing...

It's that you need to update your estate planning every so often. Her entire estate was left to her son. Unfortunately, he is dead. That means the estate, absent the discovery of some other estate planning documents, will pass through intestacy. As if the Smith estate (meaning her infant daughter) was not enough of mess, what with the pending court case for her dead husband, fight over the daughter's guardianship and paternity, now there will be intestacy to deal with.

So when you are thinking about where you want your millions to go, and you do not want the government to get the lion-share, go talk to an attorney about what is the best option for you. Otherwise, you abdicate all control.

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