Heath Ledger's Family Feuds Over His Will

A family financial squabble has erupted between Heath Ledger's uncles, Mike and Haydn Ledger and Heath's father Kim. The uncles have alleged that Kim Ledger may not be a good administrator of the estate of Heath Ledger given that he was once removed as an executor of his father's multi-million dollar estate over 15 years ago. "It plunged into enormous debt," Mike Ledger told People magazine. "Our only vested interest is to assure that Matilda is well looked after." Heath Ledger created his will before the birth of his daughter Matilda. Heath he did not update his will to leave any assets to his daughter or Michelle prior to his death in January at the age of 28 from a mixture of prescription drugs.

Wills are not just for celebrities and old people. A will is something that a person should have even if they have only fair amount of assets. Parents with children should definitely have a will that includes their children and other beneficiaries. Married, unmarried, and domestic partners also should have a will that provides for their family. The purpose of the will is to give away your possessions to the people or entities that you care about or love. A will should be updated to correspond with any important change in a person's life (i.e. retirement, divorce, birth, death, etc.) and reviewed at least once a year. Additionally, it is important to update beneficiary designations (i.e. retirement accounts, pensions, insurance, etc.). You should contact an experienced estate planning attorney when it is time to draft or change your will as well as beneficiary designation. "A thing long expected takes the form of the unexpected when at last it comes," said Mark Twain. It is your responsibility to protect your family after your death by being responsible for their welfare while your alive and preparing a proper estate plan.

Heath Ledger's Will Does Not Provide For His Daughter and Ex Fiancee

Prior to starring in his Oscar nominated role in Brokeback Mountain, Heath Ledger made a last will and testament. According to an article from the New York Times on March 11, 2008, Heath Ledger's will did not provide for his ex-fiance Michelle Williams and his 2-year-old daughter Matilda. Heath filed his three-page will in Australia in 2003, which was two years before he met Michelle Williams. The 28-year old actor's will left his entire wealth to his parents and sisters. According to documents filed in Manhattan Surrogate's Court, Heath had less than $145,000 in New York assets at the time of his death. The majority of his fortune remained in Australia with his family. The family of Heath Ledger made public statements that they would provide for his former fiancee and child. We can only hope that this will happen as I am sure that Heath would have wanted to provide for all of his family.

3 Important Lessons Learned from the Estate Planning Mistakes of Heath Ledger

First, it is important to update your will or trust if your life has changed...birth of children, death within your family, marriage and divorce. An updated will could have provided for the distribution of wealth to Heath's former fiancee and child. Second, the laws of intestacy in New York does not provide for a significant other. Special provisions may be drafted in a will or a trust to provide for a significant other. Third, if you move to another state or a different country, the will and other estate planning documents should be updated to reflect the your current needs and conform within the laws of that particular state or country in which you reside.

You should consult with your attorney to update your will.

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