Government's Plan vs. YOUR Plan: The Brutal Truth About What Happens When You Die
Why Larry King's Family Fought for 15 Months and Michael Jackson's Estate Has Been in Court for 17 Years
The Question Nobody Asks (Until It's Too Late)
I want to ask you a question you've probably never been asked before:
What plan do you have for after you die—the government's plan or your plan?
Pause for a moment and really think about that.
Because here's the reality: Every human being living in the United States of America has an estate plan—whether they know it or not. When you die, something WILL happen to your assets. Your car, your house, your jewelry, your cryptocurrency, your 401(k).
You don't have to be massively wealthy for this to apply to you.
And if you haven't created your own plan, the government has one waiting for you. It's called probate court.
Why 87% of Americans Are Completely Unprepared
If you know what I'm talking about right now, consider yourself among the top 5% of people in this country.
Because the vast majority of Americans fall into one of three categories:
No plan at all - They've never created a will or trust
A will only - They think they're covered, but they're not
An unfunded trust - They have a trust but never put assets into it
All three scenarios lead to the same destination: probate court.
And probate court is where family legacies go to die.
The Larry King Disaster: $2 Million, 15 Months, and Family Warfare
Larry King, the legendary broadcaster who interviewed thousands of people over 25 years on CNN, died in January 2021 at age 87 after being hospitalized for COVID-19. He left behind a $2 million estate and a family thrown into chaos.
King's surviving widow and son were dragged through probate court and found themselves at each other's throats, battling over who gets what. The legal warfare lasted 15+ months, and even after probate court finally closed, his widow was still in litigation and legal battles with business managers.
All because Larry King failed to set up a proper plan.
But wait—didn't Larry King have a will?
Yes. But two months after filing for divorce from his seventh wife Shawn in 2019, King handwrote a one-page note leaving his property equally among his five children. This holographic will had ambiguous language, parts scratched out, and didn't mention Shawn. After two of King's children suddenly died, he never updated the document.
The problem wasn't that King didn't think about death. The problem was he thought a will was enough.
It wasn't.
Why Your Will Is USELESS (The Truth Nobody Tells You)
Let me be brutally clear about something:
A will is simply what you WISH to happen. A trust is the ACTION that makes it happen.
A will is not a legal contract. A trust IS.
Think of it this way:
A will = Your wishes written on paper
A trust = A legal trigger that executes your wishes
When you die with only a will, here's exactly what happens:
Your estate enters state probate court—a court-supervised process where all your assets are exposed to public record, your family pays thousands in court fees and legal fees, and the entire process can drag on for months to years.
But here's what really happens behind the scenes:
The Nightmare Timeline of Probate Court
Let's walk through what your loved ones experience when you die with only a will:
Day 1: You die unexpectedly. Your family is grieving.
Week 1-2: Your family discovers they must petition probate court. Initial filing fees start at $435 in California, with additional costs for mandatory publications notifying creditors of your death.
Month 1: Your family appears in court. All your assets are inventoried and appraised—at their expense.
Months 2-6: The court processes claims from creditors. Your assets remain frozen. Nobody can access anything, even to pay bills or maintain property.
Months 6-24: If there are disputes (and there often are), the process extends. Colorado probate takes 9-24 months minimum. Texas takes 6 months to over a year. New York takes 7-9 months on average.
The worst part? Your family pays for every second of this nightmare—out of YOUR estate.
The Shocking Cost of Probate (Numbers They Don't Want You to Know)
Here's what most Americans believe: 56% think probate costs $1,000 or less. Only 4% expect it to exceed $10,000.
Here's the reality:
Probate costs typically range from 5-10% of your total estate value. For a $750,000 estate, that's $37,500 to $75,000—before anyone receives a single dollar of inheritance.
Let's break down the California numbers specifically:
California has a statutory fee schedule that applies to both attorneys AND executors (meaning costs are essentially doubled):
4% on the first $100,000
3% on the next $100,000
2% on the next $800,000
1% on the next $9,000,000
0.5% on the next $15,000,000
Let's do the math on real estates:
$500,000 Estate:
Statutory fees alone: approximately $16,000, plus court filing costs and administrative expenses. Total costs can quickly exceed $20,000-$25,000.
$1,000,000 Estate:
You're looking at approximately $23,000 in legal and executor fees alone, not including court costs, appraisal fees, and other expenses. Total: $30,000-$40,000+.
$1,500,000 Estate:
Both administrator and attorney receive statutory fees totaling $28,000 each—that's $56,000 just in statutory fees, before additional costs.
And here's the kicker: These fees are calculated on the GROSS value of the estate. Outstanding debts are NOT subtracted when determining the fee amount.
That means you could pay $20,000 in probate fees on a house worth $500,000—even if you owe $400,000 on the mortgage.
The Public Exposure Nightmare
But the financial cost is only part of the horror.
Everything becomes public record.
In the old days, someone would have to drive to the courthouse, find the right room, pull physical files, and look through records.
Today? Anyone can pull up their phone and discover:
Who your beneficiaries are
What assets you owned
How much everything was worth
Family disputes and disagreements
Claims against the estate
The more you're worth, the more likely someone will think: "Hmm, he didn't include ME in his will..."
And then they file a claim.
If the executor rejects that claim, the family member can sue the estate. Legal fees, court fees, and attorney fees all come out of YOUR estate, reducing what your loved ones actually receive.
Michael Jackson: The $100 Million Trust That STILL Failed
If Larry King's story scares you, Michael Jackson's should terrify you.
Michael Jackson, the King of Pop, created a revocable living trust as part of his estate plan. The trust was intended to funnel his estimated $100 million estate to his beneficiaries—his three children (Prince, Paris, and Blanket) and his mother Katherine—without much publicity or court oversight.
The problem?
Michael Jackson's trust was unfunded at his death in 2009. He never transferred his assets into the trust. Because the trust wasn't funded, his estate had to go through probate before the trust could receive anything.
The result?
Embarrassing and seemingly endless probate court battles between family members, executors, and the IRS. The estate has been in legal disputes since 2009—that's 17 YEARS and counting.
Over 2,000 probate documents have been filed in the Michael Jackson estate case. If Michael Jackson had taken the necessary steps to fund his trust, his estate could have been privately administered and avoided the unnecessary costs and time spent dealing with frivolous and aggressive claims.
The IRS battle alone was staggering:
The IRS initially valued Jackson's estate at over $500 million and later reduced it to $481.9 million, proposing an additional $197 million in penalties. The estate argued the total value was only $5.1 million. A major dispute centered on the value of Jackson's likeness—the estate claimed just over $2,000 while the IRS valued it at over $434 million.
After a four-year trial, the U.S. Tax Court ruled that the IRS overvalued the estate assets by $370 million. Even with the wins, the estate paid heavy costs for years of litigation.
And the family battles continue:
In 2024, Jackson's mother Katherine opposed a $600 million music rights sale to Sony, arguing it violated Michael's will and intentions. The appeals court ultimately approved the deal, but Jackson's estate remains in probate due to ongoing tax disputes involving over $700 million in alleged unpaid taxes.
The Critical Lesson: Creating a Trust Isn't Enough
Both Larry King and Michael Jackson made versions of the same mistake:
They had estate plans—but those plans were flawed.
Larry King relied on a handwritten will that created chaos.
Michael Jackson created a proper trust—but never funded it.
Here's what most people don't understand:
Creating a trust document is only STEP ONE.
STEP TWO is funding the trust—actually transferring your assets INTO it.
If you don't fund your trust, it's like building a safe but leaving all your valuables on the kitchen table. The safe exists, but it's not protecting anything.
What "Funding a Trust" Actually Means
When we say "fund your trust," we mean legally transferring ownership of your assets FROM your personal name TO the trust's name.
This includes:
Real estate (your house, rental properties)
Bank accounts and investment accounts
Stocks, bonds, and mutual funds
Business interests and LLCs
Vehicles and valuable personal property
Cryptocurrency holdings
401(k) and retirement accounts (via beneficiary designations)
Life insurance policies (via beneficiary designations)
A common misconception: "If I put my assets in a trust, I can't use them anymore."
The truth: With a revocable living trust, you maintain complete control. You can pull money out, sell assets, make changes, add beneficiaries—whatever you want. The trust is revocable, meaning YOU can modify or dissolve it at any time during your life.
The difference is that when you die, assets in the trust pass IMMEDIATELY to your beneficiaries. No probate. No court. No public exposure.
What Happens If You Die TODAY
Let me paint a picture of two different scenarios:
Scenario A: You Die With Only a Will (or Nothing at All)
Your family wakes up to the worst day of their lives. You're gone.
Within weeks, they discover:
They must petition probate court
All assets are frozen
They need to hire an attorney
Everything becomes public record
The process will take 6-24 months minimum
Costs will consume 3-7% of the estate
If you have minor children and no guardian designated, a judge decides who raises your kids—someone you might never trust in a million years.
If you have a disabled child, the court appoints a guardian. Again, maybe someone you wouldn't choose.
Creditors must be notified, which can cost several hundred dollars in publication fees. The personal representative faces months of document preparation, certified copies, recording fees, and court appearances.
Your family spends their grieving period in courtrooms, signing documents, and watching your life's work get dissected in public.
Scenario B: You Die With a Properly Funded Trust
Your family wakes up to the worst day of their lives. You're gone.
But here's what happens next:
Your successor trustee (someone YOU chose) contacts your beneficiaries. They review the trust document, which clearly states your wishes.
Within days or weeks (not months), assets begin transferring to beneficiaries according to your instructions.
No court involvement. No public exposure. No thousands in fees.
Your family grieves privately. Your wishes are honored. Your legacy is preserved.
Which scenario do you want for your family?
The Two Plans: A Side-by-Side Comparison
THE GOVERNMENT'S PLAN (Probate Court):
❌ Court supervision required
❌ Public exposure of all assets
❌ 6-24 months minimum timeline
❌ 3-7% of estate value in costs
❌ Potential family disputes become public
❌ Court decides on guardianship for minors
❌ Creditors have extended time to file claims
❌ Entire process happens during family's grief
YOUR PLAN (Revocable Living Trust):
✅ NO court involvement
✅ Complete privacy maintained
✅ Days/weeks for asset distribution
✅ Minimal costs (initial trust setup only)
✅ Family matters stay private
✅ YOU choose guardians for minors
✅ Creditors have limited timeframe
✅ Family can grieve without legal battles
Other Celebrity Probate Nightmares
Larry King and Michael Jackson aren't alone. Consider:
Prince:
Died without a will (intestate), leaving his estate in prolonged legal disputes.
Aretha Franklin:
Died with three handwritten wills found in her home, leading to years of family litigation over which one was valid.
James Gandolfini (Tony Soprano):
Had a will but structured his estate poorly—his family paid approximately 55% in estate taxes when proper planning could have reduced that dramatically.
These weren't unsophisticated people. They had access to the best attorneys money could buy.
But they either:
Didn't create a plan
Created an incomplete plan
Never updated their plan
Death Doesn't Book Calendar Appointments
Here's the uncomfortable truth we all avoid:
You don't know when your last day will be.
Regardless of how healthy you are:
You could get in a car wreck tomorrow
You could have an unexpected heart attack
You could develop cancer
You could face any number of unforeseen circumstances
Death shows no mercy, and it doesn't wait for convenient timing.
The excuses I hear constantly:
"I don't have time right now."
"I don't want to spend the money."
"I'm too young to worry about this."
"I'll get to it eventually."
But here's what happens with "eventually":
Eventually becomes never. And never becomes a nightmare for your family.
The emotional toll alone is devastating. You've recently lost a loved one and must deal with grief. Healing feels impossible when you're focusing on probate processes instead of reaching out to support systems.
The Modern Solution: Accessible Estate Planning
The traditional model for estate planning looks like this:
Find an attorney
Schedule a consultation ($300-500)
Wait weeks for documents
Pay $2,000-$5,000+ for trust setup
Every time you want to add a beneficiary, start a new business, or make changes: Pay hundreds per hour in attorney fees
The problem? Life changes constantly:
You have a new grandchild you want to include as a beneficiary
You start a new business you want in the trust
You sell cryptocurrency and want to include the profits
You acquire new property or assets
In the traditional model, each change costs hundreds of dollars and requires scheduling with an attorney.
At Enduring Legacy Mentors, we've revolutionized this process:
Create your trust through our software platform
Update it ANYTIME without additional attorney fees
Add beneficiaries instantly
Include new businesses or assets immediately
Make changes as your life evolves—at no extra cost
Because we believe estate planning should be accessible, affordable, and adaptable to real life.
Who Needs Estate Planning? (Hint: YOU DO)
"But Seth, I'm not wealthy. This doesn't apply to me."
Wrong.
If you own ANY of the following, you need a trust:
✓ A car
✓ A house (even with a mortgage)
✓ A bank account
✓ Jewelry or valuables
✓ Cryptocurrency
✓ Stocks or investments
✓ A 401(k) or retirement account
✓ Life insurance
✓ A business
You also need a trust if:
✓ You have minor children
✓ You have a disabled family member
✓ You care about your family not fighting after you die
✓ You want privacy for your loved ones
✓ You don't want the government deciding your children's guardian
✓ You'd rather your estate go to family than attorneys and court fees
In other words: Everyone needs a trust.
The Real-World Impact on Real Families
The costs of probate extend far beyond money. Your time becomes consumed—especially following a loved one's death—with filing paperwork, responding to court inquiries, and navigating complex probate law. Probate can take at least three months to resolve, but frequently takes several months to years if contested or complicated.
Consider what your spouse faces if you die suddenly:
They're grieving. They're handling funeral arrangements. They're notifying friends and family. They're managing their own emotional trauma.
And now, without a proper trust:
They must also navigate probate court, hire an attorney, attend hearings, inventory all assets, deal with creditors, and handle everything in the public eye—all while watching legal fees drain the estate.
Or, with a properly funded trust:
They follow the clear instructions you left. Assets transfer smoothly. Privacy is maintained. The process is quick and clean. They can focus on healing.
Which scenario do you want for your spouse?
Take the 2-Minute Risk Assessment
If you're still unsure whether your assets are properly protected, take our free Asset Protection Quiz.
In just 2 minutes, you'll discover your risk level:
🟢 Green = Your assets are well-protected
🟡 Yellow = You have vulnerabilities that need addressing
🔴 Red = High risk—immediate action recommended
The quiz analyzes:
Whether you have a will, trust, or neither
If your trust is properly funded
What assets might be exposed to probate
Your specific risk factors based on your situation
Click here to take the free quiz
The Bottom Line
Every American has an estate plan.
The question is: Government plan or YOUR plan?
The government's plan means:
Probate court
Public exposure
Thousands in fees
Months to years of delays
Potential family warfare
Your loved ones suffering through legal battles during their grief
YOUR plan means:
Private administration
Immediate asset transfer
Minimal costs
Quick resolution
Family harmony preserved
Your loved ones protected and provided for
Larry King could have avoided the entire probate battle if he had simply consulted an estate planning attorney instead of writing a handwritten will. Given his blended family and frail health, proper planning could have saved his $2 million estate for his loved ones instead of legal fees.
Michael Jackson's estate paid heavy costs for years of litigation over more than 2,000 probate documents—all because he failed to fund his trust. If he had taken that one extra step, his estate could have been privately administered.
Don't let this be your family's story.
Death doesn't book calendar appointments. It comes when it comes.
The time to act is NOW—while you still can.
About Enduring Legacy Mentors
We help American families avoid the probate nightmare by creating accessible, adaptable estate plans through our innovative software platform. Unlike traditional attorneys who charge hundreds per hour for updates, our system allows you to modify your trust anytime—add beneficiaries, include new assets, make changes—at no additional cost.
Our mission is simple: Ensure every family has the protection they need without the complexity and expense of traditional estate planning.
Ready to protect your family?
Take the free 2-minute risk assessment. Go here.
