For many, Carrie Fisher was the true definition of a princess, not only for her unforgettable role as Princess Leia in the Star Wars global franchise, but for her courage and determination to speak openly about human rights.
Carrie Fisher also adored her only daughter Billie Lourd and wanted to ensure she had a comfortable and bright future. To do this, Carrie invested in a Living Trust to help safeguard her assets. The Living Trust meant that Billie would inherit the holdings of the Trust when her mother passed away.
With such a bright career as an actress, humourist and author, Carrie Fisher was sure to have a very substantial income, and so, a range of profitable assets. Some of her assets have now come to light including several bank accounts, personal belongings, a life insurance policy and her $18 million property.
Some of her most cherished assets, including her Princess Leia life-size statue featured in its original phone booth, will be up for auction in September, where a proportion of the proceeds will be donated to the Thalians charity. The charity was set up by her late mother Debbie Reynolds, amongst other notable Hollywood stars.
Although Carrie had transferred most of her estate into a Living Trust, at the time of death the rest of her assets were not transferred. According to her lawyers, Carrie's intention was for the rest of her estate to be put immediately into the Trust in the event of her death.
For assets not currently in a Trust, probate may be required which can be an extremely time consuming and costly process. Probate is defined as the process to wind up an estate. As some assets were outside of the Trust, Billie, the sole beneficiary, may not receive the entire value of the estate as originally intended by Carrie.
In the UK, the cost of probate is typically up to 5% of the overall estate*. This can end up being quite a costly affair. Many people don't realise the true cost of these legal fees until they have experienced it themselves with the loss of a close loved one.
But it doesn't have to be complicated or expensive. Often simple steps are all that's needed to take care of these legal fees such as probate in advance.
Legal Services from Golden Charter
Planning ahead can be a straightforward process, if done correctly. At Golden Charter we have a range of legal services to help you plan ahead with confidence, and an experienced team of professionals on hand to help.
It's about taking care of the things that matter for the people you love, just like Carrie intended for her daughter Billie. From setting up a Power of Attorney and writing your Will to protecting your home and assets, Golden Charter are here to help you every step of the way.
To find out more about how Golden Charter can help ensure you leave more to those you love, call 0800 171 2967 and speak to one of our friendly advisors.
May the force be with you.