6 Celebrity Estate Planning Errors—and Tips

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Michael Jackson chose Diana Ross for certain reasons and good reasons at that:

1) Diana is a rich woman in her own right and does not need Jacksons money

2) Can you imagine any of Michael Jacksons brothers and sisters getting custody...they would want it because they know its a lifetime meal ticket...and those kids would be broke in a year!

3) The kids would not be uprooted...if you did your homework..Diana lives in California full time now since her children all reside here, so I see no uprooting!

4) Diana has raised 5 wonderfully gifted children that made ichael stand back and say wow...what a great parent she is.

Rick of CA 3:18PM December 20, 2011

I was fortunate enough to take one of Russell's classes at NYU a few years ago and am glad to see that he is imparting he has found a medium to impart his wisdom to the masses. His last book on estate planning basically a textbook, and though very well written, was not a book of broad appeal. From the portions I have read online, I think that this would be a good book to recommend to clients when we consult with them on estate planning matters- the quick, dirty and interesting version of estate planning tips for the lay man.

If you live in the New York area, I would strongly suggest that you look into his estate planning class. This style of book fits well with Russell dynamic personality and his wealth of estate planning knowledge. While estate planning was not a core part of my business at the time that I took the class, it has since become a significant portion of my work and it was his class that turned me into our office estate planning guru.

I just ordered my copy on Amazon and look forward to reading it!

BTW - @ T.E. I think that you should focus more on the importance of the estate planning message than on nit picking on a minor detail. Do you think that it is preferable to assume the Diana Ross is going to uproot and move cross country? Some people just love to focus on the irrelevant... sad.

AvidReader of NJ 3:04AM December 07, 2011

Uh..... In regard to #1: Diana Ross' primary residence is now in CA.... though she has a house back east. Do your research!

T.E. of CA 12:41AM December 07, 2011

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Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, writes about making smarter financial decisions. She’s the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back.

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