What did Elvis, FDR, Ricky Nelson, Conrad Hilton and Nelson A. Rockefeller all have in common?
Shrinkage.
Estate shrinkage, that is.
You may be interested in what the public probate records of the estates of these and others have to show:
| Name | Gross Estate | Net Estate | Percent Shrinkage |
| Franklin D. Roosevelt | $ 1,940,999 | $ 1,366,132 | 30% | | Henry J. Kaiser, Sr. | $ 5,597,772 | $ 3,109,408 | 44% | | Edwin C. Ernst, CPA | $ 12,642,431 | $ 5,518,319 | 56% | | Robert S. Kerr (U.S. Senator) | $ 20,800,000 | $11,300,000 | 46% | | A.H. Wiggin (Chairman, Chase Bank) | $ 20,493,999 | $ 5,646,666 | 72% | | William E. Boeing | $ 22,386,158 | $11,796,410 | 47% | | Rick Nelson | $ 744,357 | $ 506,636 | 32% | | Elvis Presley | $ 10,165,434 | $ 2,790,799 | 73% | | Rock Hudson | $ 8,600,000 | $ 3,926,288 | 54% | | James S. Kemper (Insurance Executive) | $ 10,948,356 | $ 7,007,560 | 36% | | Nelson A. Rockefeller | $ 79,249,475 | $56,727,628 | 28% | | Conrad Hilton | $199,070,700 | $93,288,483 | 53% |
| Source: Public Probate Records |
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If these people, who had access to the best advice money could buy, were not able to avoid the "unwanted heirs" (federal and state estate taxes and estate administrative costs), it will be difficult for the rest of us to avoid estate settlement costs.
Proper advance planning, however, can minimize the impact of estate settlement costs on the value of your estate. Please contact us at jason@reavesagency.com discuss your situation so that you don't experience the same sort of estate shrinkage problems.
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