Gary Cooper (1901-1061) – Actor
Gary Cooper was an American film actor renowned for his quiet, understated acting style. His stoic and at times intense screen persona was particularly well suited to the many Westerns he made. He also excelled in sophisticated, screwball romantic comedies. Cooper received five Academy Award nominations for Best Actor, winning twice for Sergeant York and High Noon. He also received an Honorary Award in 1961 from the Academy. Yet, despite his success as an actor, consider what happened to his estate.
18% Shrinkage of the Estate
$4,894,985 Gross Estate
$ 82,594 Less Settlement Costs
$ 802,483 Death Taxes
$ 885,437 Total Costs
$4,009,548 Final Estate Value
Gary Cooper was an award winning actor, but even famous actors can fail to properly plan. You decide. Is an 18% 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.