When it comes to celebrity estates, there are many lessons we can all learn about planning. And although the media tends to highlight planning mistakes made by these stars, the prudent planning by celebrities should not go unnoticed. Forbes recently pointed out some of the sound planning the late Paul Walker did at an early age as he was just stepping into the spotlight in an article titled “Five Estate Planning Lessons From The Paul Walker Estate.”
For example, in his will, Walker left all of his assets to a trust he created. This can create a much easier and simpler probate process. It was a revocable living trust, which is a very effective estate planning tool. Although it isn't a public record, if Walker went to the trouble of creating the trust, he most likely was concerned about the way that his young daughter would be handed his large estate.
Many young people do live life "fast and furious" and don't think ahead to the future. Take a break and sit down with us sooner versus later. You never know when it will be too late. At Idaho Estate Planning we are the experts you need to know and trust. Work with us and we'll put together a plan that works for you and your loved ones. Remember, good planning is no accident.