Ineffective Planning Yields Unintended Consequences
Since Marilyn looked upon Paula as family she probably thought that this wouldbe an appropriate result. As it turns out things did not unfold in this manner. Lee Strasberg lived longerthan Paula, and he wound up marrying a woman named Anna.Lee left the Monroe estate to Anna, even though Marilyn Monroe had never metthis woman. Anna made a fortune via licensing rights, selling the Marilyn Monroe image in amyriad of different forms. She ultimately sold ownership of the estate for some$20 million or more according to NPR.It's unlikely that Marilyn would have wanted to leave her legacy in the hands of someone that she didn't know, and it could have been prevented with moreeffective planning.
Steve McNair: You're Never Too Young
Many young adults procrastinate when it comes to estate planning because theydon't expect to die any time soon. The odds may be in your favor when you area young adult, but there are certainly no guarantees.Estate planning is particularly important for people who have dependentchildren. Taking chances when you are single and childless is one thing, butwhen you have people depending on you advance planning is a must.In addition to the children, some younger adults assist their parents. This isanother matter to take into consideration.With all of the above in mind
briefly examine the Steve McNair estate case.Sports fans will remember McNair as a star quarterback who spent most of hiscareer with the Tennessee Titans.