December 7, 2022

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Business is my step

Celebrity Estates: Philip Seymour Hoffman’s Estate System Mishaps

2 min read

In this episode, David Lenok, senior editor at WealthManagement.com, is joined the moment once again by Megan Gorman, founding partner of Chequers Economic Administration.

Today’s celebrity instance is Philip Seymour Hoffman, American actor, director and producer, and father of three young children with longtime girlfriend, Mimi.

At the time of his death, Hoffman’s only estate documentation was a will drafted by his actual estate law firm/CPA (not another person specializing in estate scheduling) and it mentions a have confidence in set up for his eldest son. Insistent that his little ones have been not to grow to be “trust fund young ones,” Seymour still left the remaining aspect of the estate to his girlfriend.  

A girlfriend not a spouse. A believe in for a person child not all a few. A will that was about a ten years previous. What could go incorrect? As David and Megan unpack this superstar estate, you will listen to how this was a scenario of skipped possibilities for Philip Seymour Hoffman and his advisors. 

Mario Magnani/Bauer-Griffin/GC Images/Getty Illustrations or photosPhilip Seymour Hoffman, Mimi O'Donnell and kids

Philip Seymour Hoffman, Mimi O’Donnell and their youngsters in 2013. Hoffman died in Febuary 2014.

In this episode, you will learn:

  • The importance of updating monetary paperwork with all life situations new youngster, marriage, divorce etcetera.
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  • How to make sure spouse and children affairs continue to be non-public soon after your long gone
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  • Good reasons to be informed of selected tax implications when dealing with non-spouses
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  • Remember to include things like any tangible assets in your prepare who will get Oscar?
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  • And much more!
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Tune in to understand why you require to force the problem when it will come to ensuring your clientele not only finalize their estate designs but maintain them current!

Search much more episodes in this podcast collection. … 

The Celeb Estates: Wills of the Prosperous and Well known podcast is out there on Apple PodcastsAndroidStitcher and where ever podcasts are located. 

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