Rock Hudson (1925-1985) – Actor
Rock Hudson was an American film and television actor who is most recognized as a romantic leading man during the 1950s and 1960s. His most notable films were Magnificent Obsession, Giant and several popular comedies with Doris Day. Hudson also starred in the popular television series McMillan & Wife along with a role in the hugely successful series Dynasty. The 6 ft 5 in tall actor was one of the most popular and well-known movies stars of the time. He completed more than 70 motion pictures and starred in several television productions during a career that spanned over four decades. When Hudson died in 1985, he was the first major celebrity to die from an AIDS-related illness. Yet, despite his success as an actor, consider what happened to his estate.
49% Shrinkage of the Estate
$8,600,000 Gross Estate
$ 194,300 Less Settlement Costs
$4,000,574 Death Taxes
$4,194,874 Total Costs
$4,405,126 Final Estate Value
Hudson was a highly successful actor, but even famous actors can fail to properly plan. You decide. Is a 49% 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.
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