Gloria Swanson (1899-1983) – Actress
Swanson was one of the most prominent stars during the silent film era as both an actress and a fashion icon. She did especially well under the direction of Cecil B. DeMille, whom she made dozens of silent movies and was nominated for the first Academy Award in the Best Actress category. In 1929, Swanson successfully transitioned to talkies with The Trespasser. However, personal problems and changing tastes saw her popularity wane during the 1930s when she moved into theater and television. Today she is best known for her role as Norma Desmond, a faded silent film star, in the critically acclaimed film Sunset Boulevard (1950). Yet, despite her success as an actress, consider what happened to her estate.
24% Shrinkage of the Estate
$1,440,447 Gross Estate
$ 153,852 Less Settlement Costs
$ 188,666 Death Taxes
$ 342,518 Total Costs
$1,097,929 Final Estate Value
Gloria Swanson was an accomplished actress, but even famous actresses can fail to properly plan. You decide. Is a 24% loss of the Estate good planning by someone with a vast array of professionals available to assist her?
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.
Stephen A. Mendel, Estate Planning Attorney
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