Update on the Estate of Heath Ledger
Nine months after the death of Heath Ledger, his estate is being given to his 2 year old daughter Matilda. Ledger had a will he signed in 2003 before the birth of his daughter, leaving everything to his family in Australia. The family has decided to give the estimated 16 million estate to his daughter.
Attorneys for Matilda have also filed a lawsuit against ReliaStar Insurance Co. for bad faith for not paying out on a $10 million life insurance policy Ledger took out in June 2007. He died in January 2008 from an overdose of prescription drugs. The insurance company claims they won’t pay the money until they are satisfied that the death was not a suicide. Insurance policies frequently contain clauses which prevent a pay out if the insured commits suicide. It may be an uphill battle for the insurance company since the New York medical examiner ruled the death accidental.
The case of Heath Ledger illustrates the necessity for updating your estate planning documents after major changes in your life, such as the birth of children. Other events that may dictate a review are divorce, death of beneficiaries, trustees, or executors or a major change in your assets such as from an inheritance or a business venture. If you need a review of your estate plan, call us or e mail us at Pinkerton, Doppelt, & Associates, LLP for a complimentary consultation.
