Interesting Read: When a Will Turns into a Drama!

Lesson to be learned from the following celebrities' dramatic "wills and estate planning" stories: FIND A GOOD LAWYER & HAVE A WELL-DRAFTED WILL!

James Gandolfini and his $70 – million estate

Mr. Gandolfini, known for his role as tough but conflicted mobster Tony Soprano on the HBO series The Sopranos, died at 51, leaving most of his estimated $70-million estate to his 13-year-old son and infant daughter. This means a large portion could be subject to estate taxes; taxes would not be due if he had transferred his estate to his spouse.

Mr. Gandolfini’s son, Michael, is to get the largest chunk through a trust set aside for him until he turns 21. He’ll split his father’s Italian property with his half-sister, eight-month-old Liliana, when she turns 25.

The newspaper says the remainder of Gandolfini’s estate will be split among his wife, sisters and daughter. He left $200,000 each to his personal assistant and secretary.

Beneficiaries – from cats and dogs to doorman and nurse

If you type “millionaire leaves money” into the Google search bar, several beneficiaries appear: dog, cat, doorman, nurse. Hotel mogul Leona Helmsley left $12-million to “Trouble,” her Maltese (it was dropped to $2-million after her family contested). Italian property tycoon Maria Assunta left $13-million worth of cash and properties to her cat. Reclusive copper-mining heiress Huguette Clark left her private nurse $34-million and a doll collection. Music tycoon Alan Meltzer gifted $1-million to his former chauffeur and $500,000 to his doorman of 15 years. He divorced his wife, Diana who says “If he wants to give it to the bums, he can give it to the bums. He can give his money to whoever he wants. We’ve divorced. The man is dead.”

Millionaire died with no heirs and no will

Roman Blum, a Holocaust survivor and New York real estate developer, died without heirs or surviving family members, reportedly leaving his almost $40-million estate to, well, no one. Mr. Blum apparently had no will after he died in 2012 at the age of 97. If no relatives are identified, his money will pass to the state of New York.

“I have 400 emails from all over the world, even from Canada, most of them claiming to be relatives and making elaborate stories of how they got out of Poland,” Gary Gotlin, the New York public administrator handling the case says, “Somebody’s lying. He can’t have 40 daughters and 25 sons.”

Two alleged wills, one from a non-relative, another from Poland, have surfaced; the former will has been submitted to the courts. The public administrator’s office continues the global search for heirs.

This article was reproduced from its original publication on Financial Post dated Oct. 25, 2013 by Melissa Leong.