Raymond Massey (1896-1983) – Actor
Drawn to the theater in 1922, Massey appeared on the London stage. His first movie role was High Treason in 1927. In 1929, he directed the London premiere of The Silver Tassie. Following World War II, he became an American citizen. His memorable film roles thereafter included portraying the husband of Joan Crawford during her Oscar-nominated role from 1947’s Possessed and the doomed publishing tycoon Gail Wynand in 1949’s The Fountainhead, opposite Gary Cooper. Massey became well-known on television in the 1950s and 1960s, especially as Doctor Gillespie in the popular series Dr. Kildare. Yet, despite his success as an actor, consider what happened to his estate.
47% Shrinkage of the Estate
$1,039,385 Gross Estate
$ 33,423 Less Settlement Costs
$ 451,126 Death Taxes
$ 484,549 Total Costs
$ 554,836 Final Estate Value
Raymond Massey was an accomplished actor, but even famous actors can fail to properly plan. You decide. Is 47% 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.