Many celebrities have used their wills in a creative way to meet their individual goals. This includes outlining how certain memorable assets were to be distributed after death and leaving assets to a charity or favorite cause. We’ve taken the time to discuss some of these interesting celebrity wills, below. If you’re ready to create your own will, or if you have a question about the purpose that wills serve, meet with an estate planning attorney.
The famous Grateful Dead singer died in 1995. He used his will to outline how his assets and personal items would be gifted to his beneficiaries. He chose to leave his personal items including jewelry, household furniture, books, and art to his wife. He left some of his guitars to Douglas Erwin, the man who custom-made many of his famous guitars. He also chose to leave a sizeable portion of his state to each of his children and to his wife.
Famous baseball player Babe Ruth died in 1948. He left all of his personal items and household items to his wife, Clara. He chose to leave much of his assets to friends and family members. He also left some of his estate to the Babe Ruth Foundation, which he created during his lifetime in order to benefit underprivileged children.
You can choose to create a creative will so that your individual goals are met. You may decide to leave your memorable creative items to a museum, family member, or friend. Or, you may decide to leave some of your assets to a foundation or favorite cause. You have a lot of options.
Make sure that you create a will so that your needs are met and you have a say in future matters. If you have yet to create a will, or if you’d like more information on the benefits of wills, consult with a qualified estate planning attorney.
John R. Vermillion & Associates, LLC is a member of the American Academy of Estate Planning Attorneys.