How Greedy Relatives Can Steal Your Wealth After You Die (And the One Document That Stops Them)

Michael Jackson's family is still fighting in court 17 years after his death. Don't let this happen to your family.

The $2 Million Battle That Should Never Have Happened

When legendary broadcaster Larry King died, his surviving widow and son didn't grieve together. Instead, they spent 15 months locked in a bitter, public legal battle over $2 million of King's estate—all while the world watched.

The cause? One simple mistake that costs American families billions every year: King likely forgot to update his beneficiaries after multiple marriages.

He's far from alone. A staggering 55% of Americans have no estate planning documents at all, and only 31% have established a basic will Trust & WillPR Newswire. Even more concerning, this number has declined sharply—from 33% with wills in 2022 to just 24% in 2025 Bottilaw.

But here's the twist that catches most people off guard: even having a will isn't enough to protect your family.

The Celebrity Warning Signs Everyone Ignores

Prince. Michael Jackson. Howard Hughes. Larry King.

These weren't just wealthy celebrities—they were cautionary tales playing out in real-time, showing exactly what happens when estate planning goes wrong.

When Prince died in 2016, he had no estate plan whatsoever. Despite his massive wealth and access to the best advisors money could buy, his estate has been tangled in legal battles for years.

Michael Jackson's case is even more shocking. He died in 2009—17 years ago—and his family is still going through court proceedings today. Why? Because while Jackson actually had a trust created, he made the same fatal error that 87% of trust holders make: he never funded it. An empty trust is like an empty safe—it protects nothing.

The Probate Court Trap: Why a Will Alone Isn't Enough

Most Americans labor under a dangerous misconception: "I have a will, so my family is protected."

This couldn't be further from the truth.

Here's what actually happens when you die with only a will:

Your estate must go through probate court—a public, expensive, time-consuming legal process where the government essentially "sticks their finger in your money pie."

The True Cost of Probate

Probate in California typically costs between 4% and 7% of the estate's total value Ridleylawoffices. Nationally, probate costs typically range from 3-8% of the estate LegalMatch.

Let's break down what this means for a typical $500,000 estate:

• Statutory fees: Over $16,000 in mandatory fees alone Ridleylawoffices
• Court filing fees: $435 initial filing, plus $40-$60 for additional filings, often exceeding $1,000 Ridleylawoffices
• Attorney fees: $350-$600 per hour in many states Greiner Law Corp.
• Executor compensation: Another 2-5% of the estate value
• Appraisal, publication, and administrative costs: Hundreds to thousands more

For that same $500,000 estate, total probate costs could easily reach $15,000 to $35,000 Greiner Law Corp.—money that could have gone to your children, but instead goes to courts, lawyers, and government fees.

But Money Isn't the Only Thing You Lose

Probate court creates three devastating problems:

1. It's Public Every detail of your estate becomes public record. In the past, nosy relatives had to physically visit a courthouse to snoop. Today? Anyone with a smartphone can access your financial information in seconds—from anywhere in the world.

2. It Takes Forever The average modest estate can take 6 months to 2 years to get through probate SmartAsset. Your family can't access the assets during this time, even if they desperately need them.

3. It Attracts Vultures Remember those distant relatives you haven't spoken to in decades? When your estate hits probate, they'll find out. In one recent case, over 60 people made claims against a single estate, all because it went through probate and became public knowledge. Multiple lawsuits ensued, with strangers trying desperately to prove they deserved a piece of the deceased's wealth.

The Identity Theft Nightmare No One Warns You About

Here's a chilling reality: criminals actively monitor probate records to find deceased individuals whose identities they can steal.

With your information public, thieves can:

• Transfer property titles into their own names
• Target vulnerable family members with scams during their grief
• Open accounts using the deceased's information
• File fraudulent claims against the estate

One estate planning expert shared how, after his mother-in-law passed, multiple people attempted to "penetrate that trust"—trying to exploit the family's loss for financial gain. Fortunately, because they had a properly funded trust, it acted like "kryptonite" against these predatory attempts.

The Trust vs. Will: Understanding What Actually Protects Your Family

Many people don't understand the relationship between wills and trusts. Think of it this way:

Your Will = Your wishes, dreams, and instructions for who gets what

Your Trust = The legal protection that enforces those wishes and bypasses probate

You need both. But here's the critical part most people miss:

The 80% Problem: Empty Trusts Are Worthless

A shocking statistic: 80% of people who create trusts never fund them.

Creating a trust is like opening a bank account. But just as an empty bank account holds no money, an empty trust protects no assets.

If you don't actively transfer your assets INTO the trust—your house deed, car titles, investment accounts, cryptocurrency certificates—the trust is just an expensive piece of paper. When you die, your family still goes through probate for all those unfunded assets.

What You Need to Put in Your Trust

Every asset you own should be in your trust:

• Real estate (primary residence, rental properties, land)
• Vehicles
• Bank accounts
• Investment accounts
• Cryptocurrency
• Business interests
• Valuable personal property

And here's the part many people forget: you need to update your trust when circumstances change.

Bought a new house? It goes in the trust. Sold an old property? Remove it from the trust. Started a new business? Add it to the trust. Had a grandchild? Update beneficiaries in the trust.

The Lawyer Fee Trap: Why Traditional Trust Services Keep You Coming Back

When you work with a traditional attorney to create a trust, you'll typically pay thousands of dollars upfront. But that's just the beginning.

Need to add a new property? That's another attorney fee. Bought more assets? Another fee. Want to update beneficiaries? You guessed it—another fee.

Lawyers write laws, and lawyers make money from those laws. While they're ethically required to suggest you fund your trust, they can't force you to. And every time you need to make a change? Another billable hour.

This creates a perverse incentive where the very complexity that requires professional help also becomes a revenue stream that discourages regular updates—leaving many trusts outdated and partially funded.

The Enduring Legacy Mentors Solution

Our team offers a better way. After gaining a full understanding of your dreams and long term plans, we prepare your:

• Revocable Living Trust
• Living Will & Advance Directives
• Last Will and Testament
• Power of Attorney (Healthcare & Finance)
• Certificate of Trust

Then we coordinate getting it all notarized and signed with two witnesses.

And we do it all in 7 days.

In fact, that's not just an effort. It's our promise to you (barring anything outside of our control).

But it gets better.

For the following 12 months, we handle any updates or changes to your estate planning documents on us—for free. That means no lawyer fees. And no going back and forth waiting on lawyers to get moving, while burning up precious time you won't get back.

After 12 months, we require a small annual fee in return for providing you with lifetime support PLUS annual updates to your trust as requested.

This means you get to skip high high hourly lawyer rates every time life circumstances require you make a change to your estate plan, while getting full support for life.

What Happens When You Die Without a Trust

If you die with only a will (or no estate plan at all), the court will actually create what's called a "testamentary trust" for you.

But here's the problem: they're doing it for you instead of letting you do it yourself. And when they do it:

• It takes more time
• It costs more money
• Everything is public record
• They may not interpret your wishes correctly
• Your family has no control over the process
• A judge who doesn't know you from Adam makes the final decisions for your loved ones and children.

Do you want the court acting as final decision-maker for your life's work and your family's future?

Real-World Warning: Larry King's 15-Month Battle

52% of Americans over 55 view dying without an end-of-life plan as irresponsible, 22% label it inconsiderate, and 14% call it ignorant Grow Law.

Yet even famous, wealthy individuals make these mistakes.

Larry King's left over $2 million estate became a 15-month public spectacle because of beneficiary designation errors. His widow and son fought each other in court, airing private family matters for the world to see—all because of preventable estate planning oversights.

35% of Americans have either personally experienced or know someone who has experienced family conflict as the result of not having an estate plan or comprehensive will Acadviser.

The "I'm Not Rich Enough" Myth

49% of people don't believe their assets are worth enough to worry about estate planning Acadviser.

This is perhaps the most dangerous misconception of all.

Estate planning isn't just for multimillionaires.

If you own:

• A home (even with a mortgage)
• A car
• Bank accounts
• Retirement accounts
• Life insurance
• Family heirlooms
• Jewelry
• Any cryptocurrency or investments

...you need an estate plan.

Without one, your family faces probate court—regardless of whether your estate is worth $100,000 or $10 million. In fact, smaller estates often suffer proportionally more because the percentage-based fees consume a larger portion of what you're leaving behind.

The Checklist: Protecting Your Family Today

Here's your action plan:

☑️ Step 1: Create Both a Will and a Trust

• Will = Your wishes
• Trust = The legal protection

☑️ Step 2: Fund Your Trust
Transfer every significant asset into the trust:

• Real estate deeds
• Vehicle titles
• Bank/investment accounts
• Business interests
• Valuable personal property

☑️ Step 3: Review Annually Set a calendar reminder to review your trust every year:

• New assets acquired?
• Assets sold?
• Family changes (births, deaths, marriages, divorces)?
• Beneficiary updates needed?

☑️ Step 4: Communicate with Your Family 33% of older Americans have not discussed later-life and end-of-life plans with their family, and 32% have not informed their family where to find legal, medical, and financial documents Acadviser.

Your family should know:

• That you have a trust
• Where to find the documents
• Who your executor/trustee is
• Your basic wishes

☑️ Step 5: Talk to an Estate Planning Professional. Understand your current vulnerability level—before it's too late.

The Bottom Line

Over the next three decades, American retirees plan to transfer more than $36 trillion to various beneficiaries Grow Law.

How much of that wealth will be unnecessarily lost to probate fees, legal battles, and family disputes?

You've spent your life building wealth and caring for your family. Don't let a simple mistake undo all that work.

Michael Jackson's family is still in court 17 years later. Larry King's family fought for 15 months. Prince's estate has been tangled in legal proceedings for nearly a decade.

You can protect your family from this nightmare.

A properly created and funded trust keeps everything private, bypasses probate court, and ensures your wishes are honored—without government interference, public scrutiny, or predatory relatives crawling out of the woodwork.

The question isn't whether you can afford to create a trust.

The question is: can your family afford for you not to?

Between the two cofounders, they have been helping families in estate planning for nearly 30 years. They specialize in creating and funding living trusts that actually work.

📞 Schedule your free consultation.

Let's build a plan that protects what you've spent your life building—and the people you love.

Disclaimer: This article provides educational information about estate planning and asset protection strategies. It is not legal, tax, or financial advice. Every situation is unique and requires personalized guidance from qualified professionals. Laws vary by state and change frequently. Consult with licensed attorneys, CPAs, and financial advisors before implementing any strategies discussed.