General

Mary Pickford (1892-1979) - Actress, Producer & Screenwriter Mary Pickford was a Canadian-American motion picture actress, cofounder of the film studio United Artists and one of the original 36 founders of the Academy of Motion Picture Arts and Sciences. Known to many in the U.S. as “America’s Sweetheart” and “Little Mary,” she was one of the Canadian pioneers in early Holly wood and a significant figure in the development of film acting. In consideration of her contributions to American … [Read more...] about Famous Estates – Legacy Champ or Chump?

Philip Seymour Hoffman (1967-2014) - Actor Philip Seymour Hoffman’s death was a tragedy. For his loved ones, the pain resulting from his tragic, sudden death was amplified when his long-term partner and their three children found out what the estate plan entailed. The 46-year-old actor’s estate was reportedly worth $25 million. He and his partner of 15 years, Mimi O’Donnell, had three children together. They never married, and Hoffman last updated his estate plan in 2004. At the … [Read more...] about Famous Estates – Legacy Champ or Chump?

William E. Boeing (1881-1956) - Aviation Pioneer William Boeing was an American aviation pioneer who founded The Boeing Company. In 1916, Boeing co-founded B & W with George Conrad Westervelt. Boeing also founded the Pacific Aero Products Company, which produced the Boeing Model 1 airplane. In 1917,when America entered the First World War, Boeing changed the name of Pacific Aero Products Company to Boeing Airplane Company. The company obtained orders from the United States Navy for 50 … [Read more...] about Famous Estates – Legacy Champ or Chump?

Helen Grace Hunt (1949- ) and Swanee LaKelly Hunt (1950- ) - Philanthropists The Hunt sisters, daughters of Texas oil mogul H.L. Hunt, were born and raised in Dallas, Texas. Swanee Hunt has a BA in philosophy, two master's degrees, and a doctorate in theology. Hunt is also an expert on women in politics, having conducted research, training, and consultations with women leaders in some 60 countries. She is the chair of the Washington-based Institute for Inclusive Security (including … [Read more...] about Famous Estates – Legacy Champ or Chump?

Philip Berber (1958- ) - Businessman & Philanthropist Philip Berber is an Irish millionaire and philanthropist. Berber attended University College Dublin and graduated with a Business Communication degree. In 1984, he set up a high-tech London-based company, Financia, which was bought in 1991 by Frontier Financial of Houston. Berber set up CyberCorp in 1995, and it was one of the first online trading firms for retail investors. In 2000, he sold the firm to Charles Schwab in 2000 for $488 … [Read more...] about Erle Stanley Gardner (1889-1970) – Lawyer & Author Erle Gardner was an American lawyer and author of detective stories, like his best-selling Perry Mason series. He attended law school for approximately one month, then settled in California where he became a self-taught attorney and passed the state bar exam in 1911. He opened his own law office in Merced, California, then worked for five years for a sales agency. In 1921, he returned to the practice of law, creating the firm of Sheridan, Orr, Drapeau and Gardner in Ventura, California. Gardner later gave up the practice of law to devote full-time to writing. Even though Gardner gained popularity with his detective series, consider what happened to his estate. 35% Shrinkage of the Estate $1,795,092 Gross Estate $ 636,705 Total Settlement Cost $1,158,387 Final Estate Value Erle Gardner was a famous author, but even well-known authors an fail to properly plan. If you want to minimize your estate planning taxes and/or avoid the probate process, then contact The Mendel Law Firm, L.P. for a free initial consultation on estate planning, trust planning, and/or probate issues.

John Paul Jones DeJoria (1944- ) - Businessman & Philanthropist John Paul DeJoria is an American billionaire businessman and philanthropist best known as a co-founder of the Paul Mitchell line of hair products and The Patron Spirits Company. After going through a rough adolescence, DeJoria fought to overcome his tribulations. After two years in the Navy, followed by a series of jobs ranging from janitor to insurance salesman, he entered the world of hair care as an employee of Redken … [Read more...] about Famous Estates – Legacy Champ or Chump?

Cecil B. DeMille (1881-1959) - Film Director & Producer Cecil DeMille was an American film director and film producer in both silent and sound films. DeMille began his career as a stage actor in 1900. He later moved on to writing and directing stage productions. He directed his first film, The Squaw Man, released in 1914, and would go on to direct dozens of silent films before transitioning to sound films in 1929. DeMille was renowned for the flamboyance and showmanship of his movies. … [Read more...] about Famous Estates – Legacy Champ or Chump?

Eli Broad (1933- ) - Businessman & Philanthropist Graduating cum laude from Michigan State University, with a degree in accounting, Eli Broad went on to become the youngest Michigan resident to have attained the credentials of Certified Public Accountant (CPA). In 1957, Broad went into business with Donald Kaufman, who was a home builder and related to Broad’s wife, Edythe. Broad financed his end of the enterprise with $25,000 borrowed from his wife’s parents, which eventually led to … [Read more...] about Famous Estates – Legacy Champ or Chump?

Dean G. Witter (1887-1969) - Businessman Dean Witter was a U.S. businessman who co-founded Dean Witter & Company, which became the largest investment house on the West Coast. In 1914, Witter partnered with Charles Blyth to found Blyth, Witter & Co., a San Francisco based brokerage. In 1924, Witter left the partnership to form his own company, Dean Witter & Company, with his brother Guy. In its early years, Witter focused on dealing in municipal and corporate bonds. The company was highly … [Read more...] about Famous Estates – Legacy Champ or Chump?

“The things you do for yourself are gone when you are gone, but the things you do for others remain as your legacy.” Kalu Ndukwe Kalu … [Read more...] about Thought for the Day: