Monday, January 20, 2014


Bing Crosby even appears on the internet on a law firm's website... 
Privacy is one reason to create a living trust. When Bing Crosby's first wife, Dixie Lee Crosby, died in the 1950s, he did not have enough cash to pay the death taxes after her death, so he had to sacrifice a number of his assets to pay taxes. In addition, Bing Crosby was very upset by the publicity generated by Dixie Lee's death. Publicity about her estate was obviously publicity about his estate because of the community property nature of their assets.
When Bing Crosby later planned his own estate he wanted to be sure he achieved privacy. He did not want anyone to know the size of the estate, or where it was going. When he died, there was no publicity about the size of his estate, or where his assets were going, because he had a "private will."

Bing Crosby had established a revocable living trust.


No comments:

Post a Comment