Lessons from celebrity-estate planning cases for advisors.
Dead Celebrity Podcast: Tom Petty's Estate Slips Into the Great Wide OpenDead Celebrity Podcast: Tom Petty's Estate Slips Into the Great Wide Open
What does 'equal' really mean anyway?
When you’re creating or updating estate planning documents, using clear language takes on a whole new level of importance. Carefully crafted language can ensure that your wishes leave no room for interpretation. Remember, the deceased won't be around anymore to explain themselves.
In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Megan Gorman, founding partner of Chequers Financial Management. Together, they discuss the estate of Tom Petty, one of rock and roll’s biggest icons, who died from an accidental drug overdose. Up for discussion is the dispute that broke out over Tom Petty’s estate among his widow, ex-wife and two daughters.
In this episode, you will learn:
About the background on Tom Petty and his blended family;
About the disputes that can occur when people interpret “equal” differently;
The importance of being crystal clear in the wording of your wishes;
Why estate attorneys need to push for absolute clarity when drafting these documents;
Why blended families may not be as happy as they appear;
And more!
Tune in to learn about Tom Petty’s estate and how to help your clients ensure their wishes leave no room for disagreement once they are gone.
RELATED: Tom Petty’s Daughters Battle Over Control of the Late Singer’s Estate
The Dead Celebrity podcast is available on Apple Podcasts, Android, Stitcher and wherever podcasts are found.
