Scott Martin

Nearly 50 years after Walt’s death, a $600 million slice of his entertainment empire is up for grabs as heirs and advisors square off for control.

[caption id="attachment_14020" align="alignright" width="425"] As the dead hand of Walt's trusts eases its grip, the question of what remains of his legacy is something each of his heirs need to answer.[/caption]

Estate planners looking to build truly dynastic structures to protect client wealth need only look to recent developments in Walt Disney’s legacy for best- and worst-case scenarios.

Some grandparents send stuffed animals or a brand-new copy of The Cat in the Hat when a new member joins the family.  For wealthier, more financially savvy families, however, the ultimate new baby gift is financial security – a trust that will cover college costs, unexpected medical expenses or down payment on a first house. 

Blood test looks like a PR stunt but the prospect of another heir exposes weak link in singer’s estate plan at a moment when extremely highly paid trustees are already distracted and defensive.

Michael Jackson has been dead for four years, but as the eleventh-hour emergence of another potential heir demonstrates, the estate remains anything but settled.

Accidental death leaves rival girlfriends bickering over a reported $45 million fortune while the star’s parents have to provide for his granddaughter.

While it takes most people a lifetime to accumulate an estate complicated enough to require professional assistance, celebrities and other younger millionaires are still vulnerable to accidents.

Paul Walker, for example, was barely 40 years old when the Porsche he was in rammed a tree at 100 miles per hour.