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Top 10 Celebrity Stories To Spark Holiday Estate Planning Conversations

Sure the holidays are a fun time for families to sit around talking about what happened on the latest episode of The Walking Dead or how granddaughter Mary is doing in dance class.  But they are also a great time to have the important -- yet often difficult -- conversations about estate planning.  What happens when Mom dies?  Does anyone know where Dad kept his will?  Did they ever transfer the investment accounts into their revocable living trust like they were supposed to?   Walking dead

Many families don't ask these tough questions ... especially when dynamics are strained, like in many second-marriage families or when siblings don't get along well.  It certainly isn't easy to blurt out after passing the gravy, "Hey Dad, does your will put me or your wife in charge of your estate?"

But these conversations are important.  When the proper estate planning isn't done, it's the family members left behind who pay the price, often with bitter, ugly, and costly probate court battles.  They happen to families all across the country on a daily basis, from those of modest wealth to the very rich.

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Mickey Rooney's Estate Finds Peace, But Will It Last?

A mere five days after the Hollywood acting legend passed away in his sleep at the age of 93, the family of Mickey Rooney was set to appear in a Los Angeles courtroom to fight over where he should be buried. Just hours before the court hearing, the estate reached a settlement — hopefully putting an end to the troubling feud that surrounded Rooney’s family the last few years.  Mickey_rooney_2000-300x267

On one hand, Rooney’s family fight should not be viewed as surprising. What else would be expected when a Hollywood icon dies with a new will disinheriting all nine of his children (from eight different marriages), his wife, and all of his grandchildren and great-grandchildren? But a closer look shows how this family feud was far from the typical inheritance squabble we often see when famous people die.

Mickey Rooney‘s estate is reported to be worth a mere $18,000 at this point. While his successful acting career spanned more than 80 years, most of Rooney’s starring roles occurred during the movie industry’s “old studio system.” So Rooney’s estate is not in line to receive much in the way of royalties, despite the fact he was the highest-paid actor of the late 1930′s to early 40′s.


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Mickey Rooney says his stepson is abusing him

Famed 90-year-old actor Mickey Rooney, who has won an Oscar, Emmy and a Golden Globe, now plays a much sadder role.  It's one that is far more common than most people realize.  Mickey Rooney

Mickey Rooney says he has been a victim of elder abuse at the hands of his stepson, who has made him a prisoner in his own home.  In a recent court filing, Rooney alleges that the stepson, Chris Aber, along with Aber's wife, have taken control of his finances, intercepted his mail and even forced him to do performances he did not wish to do. 

Rooney says they've also drained almost $400,000 from his bank accounts and refused to give him his own ID cards, passport, and Screen Actor's Guild card.  In fact, a judge recently ordered Aber to turn the cards over to Rooney within 24 hours.

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