Celebrity
Estate Losses
Study the examples below to
see how much each one lost due to poor planning. In many cases, with
proper estate planning the losses to the estate could have been reduced or
eliminated. Elvis Presley was living for the day. He didn’t plan for the
future or the 73% loss of his estate could have been reduced or
eliminated. Some may not qualify for certain planning options.
Is it possible that your sole purpose in life is simply to serve as a
warning to others?
|
Celebrity |
Estate |
Taxes & Costs |
Net Estate |
|
Elvis Presley |
$10,165,434 |
- $7,374,635 |
$2,790,799 |
|
J.P. Morgan |
$17,121,482 |
- $11,893,691 |
$5,227,791 |
|
John D. Rockefeller |
$26,905,182 |
- $17,124,988 |
$9,780,194 |
|
Alwin Ernst (CPA) |
$12,642,431 |
- $7,124,112 |
$5,518,319 |
|
Frederick Vanderbilt |
$76,838,530 |
- $42,846,112 |
$33,992,418 |
|
Marilyn Monroe |
$819,176 |
- $448,750 |
$370,426 |
|
William Frawley |
$92,446 |
- $45,814 |
$46,632 |
|
William Boeing |
$22,386,158 |
- $10,589,748 |
$11,796,410 |
|
Henry J. Kaiser Sr. |
$5,597,772 |
- $2,488,364 |
$3,109,408 |
|
W.C. Fields |
$884,680 |
- $329,793 |
$554,887 |
|
Hedda Hopper |
$472,661 |
- $165,982 |
$306,679 |
|
Cecil B. DeMille |
$4,043,607 |
- $1,396,064 |
$2,647,543 |
|
Earle Stanley Gardner |
$1,795,092 |
- $636,705 |
$1,158,387 |
|
Al Jolson |
$4,385, 143 |
- $1,349,066 |
$3,036,077 |
|
Gary Cooper |
$4,948,985 |
- $1,520,454 |
$3,454,531 |
|
Walt Disney |
$23,004,851 |
- $6,811,943 |
$16,192,908 |
|
Clark Gable |
$2,806,526 |
- $1,101,038 |
$1,705,488 |
|
Humphrey Bogart |
$910,146 |
- $274,234 |
$635,912 |
|
Henry Kaiser Jr. |
$55,910,373 |
- $1,030,415 |
$54,879,958 |
What I can’t figure out is, if there is a
way to pass the value of 100% of your estate to your heirs, a way to
maximize or increase the legacy to your heirs, decrease the losses due to
taxes, why wasn’t it taken care of better in the above estates?
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