Jessica Savitch (1947-1983) – Television News Anchor
Savitch was a popular local television newscaster at KYW-TV, the former NBC affiliate (now CBS) in Philadelphia, and a Washington correspondent for NBC News. Thanks to her screen presence and attractive style, she was eventually promoted to the news anchor of the weekend NBC Nightly News, and she also anchored Frontline on PBS. Her autobiography, Anchorwoman, was published in 1982. However, her unstable personal life became increasingly messy. Weeks after her divorce was finalized, Savitch married Donald Payne, her gynecologist. In August 1981, Payne committed suicide by hanging himself in the basement of their Washington, D.C. townhouse. On October 3, 1983, Savitch was suspected of being under the influence of drugs while anchoring a mid-evening news update called NBC News Digest. On October 23, 1983, Savitch and a dinner partner died in a car accident when they were trapped upside down inside the car in a canal. Yet, despite her success as a television news anchor, consider what happened to her estate.
30% Shrinkage of the Estate
$2,175,463 Gross Estate
$ 286,162 Less Settlement Costs
$ 375,851 Death Taxes
$ 662,013 Total Costs
$1,513,450 Final Estate Value
Jessica Savitch was an accomplished television news anchor, but even famous news anchors can fail to properly plan. You decide. Is a 30% loss of 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.