Lessons from celebrity-estate planning cases for advisors.
Dead Celebrity Podcast: Joan Crawford's Harsh DecisionDead Celebrity Podcast: Joan Crawford's Harsh Decision
David Lenok and Dr. Stanley Teitelbaum explore 'Mommie Dearest' herself, Joan Crawford's, decision to disinherit two of her children.
Determining how to divide your assets, and then properly communicating that choice in a manner that doesn't start a family war, is one of the most difficult aspects of estate planning. The default position is generally dividing things "equally," but what does that mean really? What if one heir has been more involved and supportive or simply needs the money more than their sibling? How heavily do emotions come into play? Does your client want to use their estate to punish heirs for some perceived grievance or to send some sort of message? Is that impulse right or wrong?
In this episode, I sit down with Dr. Stanley Teitelbaum, Psy.D., to discuss (in)famous old Hollywood legend Joan Crawford and the emotions that can rage while formulating an estate plan.
The Dead Celebrity podcast is available on Apple Podcasts, Android, Stitcher and wherever podcasts are found.
