Celebrity Estate Planning Mistakes! http://www.bankrate.com/lite/celebrity-money/celebrity-estate-planning-mistakes-1.aspx
Famous actress and model Marilyn Monroe left most of her estate to her acting coach, Lee Strasberg. When he died, his interest in Marilyn's estate went to his third wife, who did not even know Marilyn. Marilyn's mistake was not putting her assets in trusts. Strasberg's third wife, Anna, eventually hired a company to license Monroe's products, which involved hundreds of companies including Mercedes-Benz and Coca-Cola. In 1999, many of Monroe's belongings were auctioned off, including the gown she wore to President John F. Kennedy's birthday party, for more than $1 million. Strasberg ended up selling the remainder of the Monroe estate to another branding company for an estimated $20 million to $30 million, according to a remembrance of the star by NPR in 2012.
A trust would have provided for Strasberg while he was alive and then after his death could have directed the remainder of her estate to someone of her choosing.
