Celebrity Estates: Wills of the Rich and Famous Celebrity Estates: Shannen Doherty and The Importance of Timely Planning
Oct 7, 2024
In this engaging discussion, expert Shawn Goheen, a partner at Goheen Companies with over 30 years in the life insurance industry, addresses the poignant story of actress Shannen Doherty, who finalized her divorce just before her passing. The conversation underscores the vital need for timely estate planning and how it influences asset distribution. Goheen emphasizes the importance of integrating foundational documents and life insurance into estate strategies while fostering open dialogues among advisors to ensure cohesive planning for future generations.
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Last-Minute Divorce Saved Estate
- Shannen Doherty finalized her divorce the day before she died to ensure assets passed to her designated beneficiaries.
- That last-minute move prevented her ex-spouse from making a claim on her rumored multi-million dollar estate.
Plan Early And Keep It Flexible
- Estate planning should be started early and revisited often because family, money, and emotions change.
- Flexibility matters since volatile personal dynamics can upend plans at any time.
Begin With Wills And Powers
- Ask clients in the first meeting whether they have updated wills, durable powers, and medical directives.
- Start every client relationship by getting basic wills and trusts in place before other steps.