Celebrity estate planning disasters may seem distant or irrelevant, but the truth is, the same mistakes can affect anyone who doesn’t have a proper plan in place. The same mistakes that caused headaches for stars like Aaron Carter, Kobe Bryant, and James Gandolfini can happen to anyone. 

This CNBC article takes a quick look at three high-profile missteps, and how you can avoid them.

1. No Will at All
   Pop star Aaron Carter passed away in 2022 without a will, despite having a young son and a fiancée. Because he hadn’t put a plan in writing, the courts had to step in, appoint a fiduciary, and determine how his assets would be handled.

Even a simple will is better than nothing. If you have kids, own property, or want to provide for a partner you’re not legally married to, you need a plan in place – no matter your age or income.

2. Not Updating Documents
   Kobe Bryant had an estate plan — but it hadn’t been updated to include his youngest daughter, born months before his death. His widow had to petition the court to add her to the trust.

It’s crucial to review your estate plan regularly, especially after major life changes like a birth, death, divorce, or financial shift.

3. Ignoring the Tax Implications
   James Gandolfini’s $70 million estate lost around $30 million to taxes – simply because it wasn’t structured to minimize that burden.

Most families won’t face estate taxes, but inherited retirement accounts and poorly planned transfers can still create tax issues. It pays to plan with both legal and financial guidance.

At Rhodes Law Firm, we help everyday families build thoughtful, tax-efficient estate plans – no celebrity status required. Contact us today to schedule your personalized estate planning consultation.