Ok, so there are a lot of differences. And, no, we didn’t steal this setup from a late-night comedy show.
This is serious. As in, SEVEN-HUNDRED-MILLION-DOLLARS serious.
That’s right, $700,000,000 is what the Jackson estate owes the IRS compared to ZERO DOLLARS the Williams estate owes the IRS as tax on each celebrity’s publicity rights. How is that possible? The answer is simply coordination, or more specifically lack of coordination in the estate plan.
Is there any reason the Jackson estate plan [or YOUR ESTATE PLAN for that matter] would intentionally call for a large and unnecessary tax payment to the IRS?
Judging by the legal battle currently underway, the answer would have to be NO as far as the Jackson estate is concerned. Unintentional Tax Penalties occur more often than you might think and outdated documents are often the culprit.
What’s the solution?
Learning from the mistakes of others, recent court rulings, and law changes then coordinating those lessons into your own plan, just as Williams did, can save your family some serious money.
Your Call To Act:
Reviewing Estate Planning Documents is important for everyone, not just the mega-wealthy. Unfortunately, the review often only becomes urgent after it is already too late. If you have not reviewed your documents since 2010, it’s time. We’ll make it really easy and you’re sure to get your money’s worth because it’s FREE. Just contact us for a document review and we’ll take it from there.
If you were just thinking to yourself something like: “I should…”, “I’ve been meaning to…”, “I don’t have time to deal with it…”, “I’m sure my attorney will take care of it…”, then click reply right now. Put “document review request”, your name and phone number in the email. Get it Done.
To read more about Jackson vs. Williams, including access to the Robin Williams Trust Document that is saving his estate MILLIONS of DOLLARS, click: http://thetrustadvisor.com/headlines/robin-williams-image
If you are an actor, performer, athlete or in any other profession where you may have intangible assets like publicity rights, this particular example directly applies to you!