Before her death, Hepburn planned how she wanted her estate distributed.
Audrey Hepburn has been admired by many.
She is beloved for the characters in her films and for her own character.
When she died in 1993, she showed her intelligence once again.
She had created an estate plan.
According to a recent The Daily Mail article titled “Audrey Hepburn's Will Revealed!,” Hepburn intentionally passed possessions to family and loved ones.
First, she named an executor for her estate.
This was French fashion designer Hubert de Givenchy.
She left jewels to family and friends.
The daughter of Yule Brenner was left $1,500 worth of jewelry.
Her son Sean received earring given to her by his father to celebrate the birth of their son.
She left Robert Wolders two candlesticks.
He was her partner at the time of her death.
Her intellectual property, film rights, likeness rights, and the majority of her estate were left to her sons, Sean Hepburn Ferrer and Luca Dotti.
Unfortunately, even with this planning, there has been recent trouble.
Ferrer and Dotti created a charity for children after the death of their mother, and they used her name.
Ferrer stepped down from being a chairman in 2012.
Eventually, Ferrer ended the license for the charity to use the name of his mother.
The charity sued him for interference with the contract.
Ferrer countersued saying the charity retained property illegally.
There has yet to be a conclusion to these suites.
Could something like this have been avoided?
Hepburn could have worked with an estate planning attorney in the creation and funding of the charity before she died.
She could have included instructions on how her likeness would be used for the fund.
If you want to be sure you have a comprehensive estate plan for your goals, work with an experienced estate planning attorney.
So, how do you find an "experienced" estate planning attorney?
First, ask around. Friends, family and other professional advisors are trustworthy sources.
Second, conduct an "organic" search on "Google" for "estate planning" near you (e.g., "Estate Planning Anytown MoKan").
Third, either way, verify! Check out the education, experience, ratings and client reviews of any attorney before you contact him or her.
In fact, I use both of these services to thoroughly vett attorneys before referring members of our "client" family for legal help in other areas of law or for matters in jurisdictions outside Kansas or Missouri.
Remember: “An ounce of prevention is worth a pound of cure.” When making your financial, tax and estate plans, do not go it alone. Be sure to engage competent professional counsel.
For more information about estate planning in Overland Park, KS (and throughout the rest of Kansas and Missouri), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: Daily Mail (December 15, 204) “Audrey Hepburn's Will Revealed!”