Clark Gable (1901-1960) – Actor
Clark Gable was an American film actor most famous for his role as Rhett Butler in the 1939 Civil War epic film Gone with the Wind. His performance earned him his third nomination for the Academy Award for Best Actor. He won an Oscar for It Happened One Night (1934), and was also nominated for Mutiny on the Bounty (1935). Later movies included Run Silent, Run Deep, a submarine war film, and his final film, The Misfits, which paired Gable with Marilyn Monroe, also in her last screen appearance. In 1999, the American Film Institute named Gable seventh among the greatest male stars of all time. He was nicknamed “The King of Hollywood.” Yet, despite his success as an actor, consider what happened to his estate.
28% Shrinkage of the Estate
$2,806,526 Gross Estate
$ 377,887 Less Settlement Costs
$ 394,924 Death Taxes
$ 772,811 Total Costs
$2,033,715 Final Estate Value
Clark Gable was a successful actor, but even famous actors can fail to properly plan. You decide. Is a 28% loss of the Estate good planning by someone with a vast array of professionals available to assist him?
If you want to minimize the likelihood of shrinkage to your estate, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.
The Mendel Law Firm, L.P. is a member of the American Academy of Estate Planning Attorneys.