The details of the late actress Carrie Fisher's estate plan have recently been made public in court filings.
The actress had established a living trust and her only daughter, Billie Lourd, is the sole beneficiary of that trust. The estate is worth millions of dollars.
It includes a multi-million dollar home, valuable Star Wars memorabilia and the rights to Fisher's famous image and likeness. However, even though Fisher had a trust, part of the estate might still need to go through probate court.
People reported on this in "Carrie Fisher's Final Assets Revealed, Billie Lourd Named Beneficiary of the Estate."
At the time of her death, Fisher had not placed all of her assets in the trust. Under basic estate law, that means that any assets not in the trust need to go through probate court.
However, attorneys for the estate have asked the court to allow all of the assets to be placed in the trust, since that is what Fisher intended. If the request is granted, then probate will not be necessary.
In this case, the request is likely to be granted, since the final result of probate would likely be that the assets would all be inherited by Lourd. If she has no objections, then the court is likely to allow the estate to avoid the costs and time associated with going through probate.
There is still some danger for the estate here, as someone else could possibly make an objection to the request.
The best thing for people in Cincinnati and elsewhere to do is to place everything in a trust, in order to completely avoid this type of situation.
Remember: “An ounce of prevention is worth a pound of cure.” When making your estate plans or when probating an estate or administering a trust, do not go it alone. Be sure to engage a Cincinnati estate planning attorney.
For more information about estate planning, probate or trust administration in Cincinnati (and throughout the rest of Southwest Ohio) and to review free resources regarding estate planning, probate or trust administration, visit my website. If you have questions regarding this article or a particular legal matter, feel free to contact me at 513-399-PLAN (7526).
Reference: People (July 7, 2017) "Carrie Fisher's Final Assets Revealed, Billie Lourd Named Beneficiary of the Estate."