Thursday, July 16, 2009

Guardianship - Lessons from the Celebrities


The issue of guardianship is just such an important part of one's estate plan that it can not be stressed enough. I am reminded of the case of Anna Nicole Smith. It illustrates the importance of determining guardianship in a current will. Former Playboy model celebrity Anna Nicole Smith (Vicki Lynn Marshall) died in 2007 at age thirty-nine, leaving a five month old baby, naming no father, and having an obsolete will that left everything to a deceased son and omitted provisions for future born children.

Even after paternity was determined, the litigation and law commentaries continued over other unresolved questions. My advice is to take the time now to survey the list of potential guardians for your minor children, make a decision regarding guardianship, and stay current by updating your will when necessary. In fact, the lesson to be learned from this case is the importance of a properly drafted estate plan in order to protect your children who are an essential part of your legacy.

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