Has Heath Ledger's Estate Been Settled?
You may remember that my colleague, Chris Graham, blogged on the death of the actor, Heath Ledger and the pending litigation involving his estate (Link to Chris Graham's Blog).
It has been well reported that Ledger last made a Will in 2003, before the birth of his daughter Matilda (in 2005) and before his claim to fame. Under the 2003 Will, Ledger left all of his possessions to his parents and sister. He subsequently stared in several hit films which vastly increased the size of his net value. Subsequent to his passing, the question that was considered was what would happen to Matilda, as she was not provided for in the 2003 Will?
There had been discussion that Matilda's mother would likely commence a claim on Ledger's estate, which could have tied up the Estate in litigation for years. However, now it is widely reported that Ledger's entire estate will all go to two year old Matilda (click here for the report).
Estate planning is like doing our taxes. No one wants to do them, but Ledger's story teaches us an important lesson. It reminds us of the uncertainty of death and the consequential need to ensure that our estate plans are updated to protect those that we care for.
Rick Bickhram
