Update: Funeral Expenses Out Of Control

While we all wait with bated breath for the government to implement the promised federal estate tax reforms to see how they will change estate planning, there is news of a lighter nature.

 

The story of Hunter S. Thompson’s funeral is one of estate planning legend.  With his estate illiquid, the executors couldn’t fund the famed writer’s last wish: for his ashes to be fired out of a cannon on his property.  However, because Mr. Thompson made sure one of his best friends knew of his wishes, Johnny Depp gave the estate the funds for the funeral/firing.  The lesson from the tale is to make sure the important people in your life know your wishes or know how to find them.

 

Now details from a lawsuit by his former managers claim the cannon and party cost a total of $3 million, and contributed to Mr. Depp’s financial ruin.  I guess the new lesson is to be careful about how you phrase your wishes and who you let do the party planning.