The saying goes that anyone who does not learn from mistakes in the past, is doomed to repeat them. In estate planning, if you do not learn from other’s mistakes, you are likely to repeat them.
The fortunate cat has starred in magazine spreads, had makeup lines named in her honor and is the inspiration for the novelty novel Choupette: The Private Life of a High-Flying Fashion Cat.
James Brown died on Christmas Day 2006. However, almost 15 years later, litigation over his estate rages on. The Godfather of Soul had bequeathed the majority of his assets to underprivileged students in South Carolina and Georgia, but not a single scholarship has been given, pointed out Donald W. Beatty, Chief Justice of South Carolina’s Supreme Court.
Kenny Rogers didn’t write a lot of his greatest hits. His heirs get a little cash, when any of his recordings are played or purchased online, but that’s just a trickle of income.
With some cases of COVID-19, patients are dying in isolation. The sorrowful stories are a grim but important reminder: if you haven't formalized your final wishes, you likely would not have the opportunity to do so from your hospital bed.