• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today for help!  (631) 265-0599
  • Facebook
  • LinkedIn
  • Twitter

Eghrari-Logo

Long Island Elder Law & Estate Planning

  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
  • Resources
    • Client Resources
      • Definitions
      • Docubank
      • Elder Law Resources
        • Brentwood Elder Law
        • Central Islip Elder Law
        • Commack Elder Law
        • Hauppage Elder Law
        • Smithtown Elder Law
      • Estate Planning Resources
        • Estate Planning Check Up
        • Estate and Gift Tax Figures
        • Estate Planning Techniques
        • Estate Planning Worksheet
        • FREE Estate Planning Seminars
        • Long Island Estate Planning Resources
      • New York Medicaid Resources
        • Medicaid Planning Worksheet
      • Nursing Home Resources
      • Probate Resources
        • Brentwood Probate
        • Central Islip Probate
        • Commack Probate
        • Hauppage Probate
        • Smithtown Probate
        • Suffolk County Probate Resources & Checklist
      • Presentations
      • Retirement Planning Checklist
      • Trust Administration Resources
    • Elder Law Reports
    • Frequently Asked Questions
      • Business Planning
      • Estate Planning
      • Families Without an Estate Plan
      • Incapacity Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Reports
  • Estate Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Incapacity Planning
    • Legacy Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Hospice Care
    • Medicaid Planning
  • Areas We Serve
    • Long Island
    • Nassau County
      • Oyster Bay
    • Suffolk County
      • Brentwood
      • Central Islip
      • Commack
      • Hauppauge
      • Smithtown
  • Blog
  • Contact Us

Mobile Menu

  • Home
  • Who We Are
    • About Our Firm
    • Meet Our Team
  • Resources
    • Client Resources
      • Definitions
      • Docubank
      • Elder Law Resources
        • Brentwood Elder Law
        • Central Islip Elder Law
        • Commack Elder Law
        • Hauppage Elder Law
        • Smithtown Elder Law
      • Estate Planning Resources
        • Estate Planning Check Up
        • Estate and Gift Tax Figures
        • Estate Planning Techniques
        • Estate Planning Worksheet
        • FREE Estate Planning Seminars
        • Long Island Estate Planning Resources
      • New York Medicaid Resources
        • Medicaid Planning Worksheet
      • Nursing Home Resources
      • Probate Resources
        • Brentwood Probate
        • Central Islip Probate
        • Commack Probate
        • Hauppage Probate
        • Smithtown Probate
        • Suffolk County Probate Resources & Checklist
      • Presentations
      • Retirement Planning Checklist
      • Trust Administration Resources
    • Elder Law Reports
    • Frequently Asked Questions
      • Business Planning
      • Estate Planning
      • Families Without an Estate Plan
      • Incapacity Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Reports
  • Estate Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses
    • Incapacity Planning
    • Legacy Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Hospice Care
    • Medicaid Planning
  • Areas We Serve
    • Long Island
    • Nassau County
      • Oyster Bay
    • Suffolk County
      • Brentwood
      • Central Islip
      • Commack
      • Hauppauge
      • Smithtown
  • Blog
  • Contact Us

You Can Learn From These Celebrity Estate Planning Errors

estate planningIf you are leaving behind significant resources, they may continue to be viable for generations as income accumulates faster than it is distributed. For entertainers, this can include royalties and licensing rights.

The estates of some deceased individuals continue to earn extraordinary sums of money year in and year out for decades after their passing. This is certainly true with Marilyn Monroe and Jim Morrison.

Let’s look at where all the money went and learn something in the process.

Marilyn Monroe’s Estate

The persona of Marilyn Monroe has remained relevant in the minds of people around the world ever since she passed away. Her image is continually sold on every type of product imaginable, from calendars to t-shirts to commemorative items of all kinds.

Her estate had a certain amount of value when she passed away, but it has earned incredible sums of money ever since.

Who got all this money?

Marilyn Monroe did not have much of a family, so she left behind almost all of her estate to her acting teacher, close friend, and mentor Lee Strasberg. He was married to his second wife Paula at the time of Marilyn’s death.

Marilyn was equally close to Paula according to reports.

Paula was younger than Lee, and because of the difference in life expectancies between men and women, it would be logical to assume that Paula would outlive Lee. If that took place, Marilyn’s estate would still be in the hands of a friend who sincerely cared about Monroe and her legacy.

In spite of the probabilities, Lee outlived Paula and remarried. His third wife inherited everything after Lee died, including rights to the Marilyn Monroe estate.

Though this woman, Anna Strasberg, didn’t know Marilyn, all those millions wound up in her hands.

Jim Morrison

Jim Morrison of The Doors lived hard and died young, but perhaps surprisingly, he did have a last will that left everything to his girlfriend Pamela Courson, with one stipulation.

According to the terms of the will, his brother and sister were to inherit his estate if Pamela did not live for at least three months after Jim died.

The singer despised his parents according to quotes attributed to him, and there is no reason to believe that he would have been interested in enriching Courson’s parents. They certainly weren’t named in his will.

In spite of this, Courson’s parents did in fact inherit his estate after their daughter died intestate a couple of years after Morrison passed away. After litigation was initiated, they ultimately agreed to share control of the estate with Morrison’s parents.

More on The Doors and Estate Planning

The legacy of an artist continues to persist even after he or she passes away. That art is always going to be accessible to the public, and such is the case with the music of The Doors.

Co-founder Ray Manzarek joined Morrison in the great beyond when he passed away in 2013 at the age of 74. In addition to his work as a musician, Manzarek put out a book in 1999 called Light My Fire, which is an account of his years with The Doors.

This is interesting when you consider your legacy. Imagine sitting down to write your memoirs during your retirement years. You could include the finished product within your estate plan and allow family members to read it after you pass away.

It could be quite comforting for them to have the opportunity to get a glimpse into your life after you are gone. The stories could be just plain interesting to read, but they could also be emotionally meaningful and instructive.

Another positive that would come about if you were to share your experiences in writing would be the fact that future generations of your family could read your memoirs. Many people are interested in finding out about their roots, and you would be leaving behind an extraordinarily useful genealogical tool as part of your legacy.

Schedule a Consultation Right Now!

We are here to help if you would like to discuss your legacy planning goals with a Smithtown, NY estate planning attorney. You can schedule a consultation if you give us a call at 631-265-0599, and there is also a contact form on this website that you can use to send us a message.

 

 

 

 

  • Author
  • Recent Posts
Eghrari Wealth Training Law Firm
Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.
Latest posts by Eghrari Wealth Training Law Firm (see all)
  • What You Need to Know about the New York Medicaid Estate Recovery Program - June 15, 2022
  • How to Decide Which Kind of Last Will and Testament Is Right for You - June 1, 2022
  • How to Be a Caregiver from a Distance - May 25, 2022

About Eghrari Wealth Training Law Firm

Mark S. Eghrari is an attorney in private practice in Smithtown, New York. He has been in practice since 1988. Mark S. Eghrari provides extensive estate and tax planning services to individuals and businesses. Mr. Eghrari’s primary focus is helping clients avoid probate, minimize or eliminate Federal and State Estate taxes and protect their assets from the high cost of nursing care, if they become ill.

Previous Post: «new york estate tax What Is the 2021 New York Estate Tax Exclusion?
Next Post: Real Estate Boom Can Have Estate Tax Implications estate tax home ownership»

Primary Sidebar

Blog subscription

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter

Where We Are

Eghrari Wealth Training Law Firm
50 Karl Avenue, Suite 202
Smithtown, NY 11787
Phone: (631) 265-0599
Fax: (631) 265-0754

See Larger Map
Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 2:00 PM

Map

map for Eghrari Wealth Training Law Firm office

Footer

Office Location

Eghrari Wealth Training Law Firm
50 Karl Avenue, Suite 202
Smithtown, NY 11787
Phone: (631) 265-0599
Fax: (631) 265-0754

See Larger Map
Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 2:00 PM

Sign Up for Our Newsletter

Sign up to get our free estate planning newsletter for all of our tips and resources

  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Site Footer

ATTORNEY ADVERTISEMENT

Copyright © 2022 American Academy of Estate Planning Attorneys · All Rights Reserved