As an article in Forbes explains, even the rich and famous get it wrong when it comes to estate planning. Although these people can afford entire teams of attorneys to set up their estate plans just right, many often become victims to bad estate planning advice or maneuvers. The biggest estate planning lesson is always to have a will in place. In the absence of a will, the government will divide your assets according to it’s own laws, rather than your wishes. This is especially important for non-married couples, as shown in Stieg Larsson’s will. Larsson, who penned “The Girl With the Dragon Tattoo,” did not have a will and therefore left his girlfriend of 32 years with nothing upon his death. The next lesson is to be sure that your heirs can locate you will upon your death. Olympic sprinter Florence Griffith Joyner did take the time to prepare a will, however she never told anyone where it was. Therefore, her husband could not find and file it within the 30 days required by state law. Due to this, Joyner’s husband and mother fought a bitter court battle over the distribution and administration of her estate. Although Joyner made her wishes known through a will, a third party was required to administer her estate. If you would like expert assistance in crafting and reviewing your estate plan, please contact us at 818.956.9200.