Hopper made numerous changes to his estate planning documents instead of waiting for his divorce to be final. These included:
- Changing his life insurance beneficiary designation.
- Making sure Duffy was not listed in his will or trust as a beneficiary.
- Verifying that his prenuptial agreement was in order.
In the end, Duffy sued the estate for, well, everything and anything she could. When all was said and done, she settled with the estate, but for much less than she wanted. The majority of Hopper’s estate went where he wanted it to go – to his children.
The lesson learned? Don’t wait to update your estate plan. Take action!
Source: Dennis Hopper Saves Heirs with Last Minute Estate Plan Changes
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David R. Duringer, JD, LL.M, is a concealed firearm instructor and tax lawyer specializing in business and estate planning. He is managing shareholder at Protective Law Corporation, serving Southern California from its Laguna Hills (Orange County) headquarters and a satellite office in Coronado (San Diego County).
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