Harper Lee, the author of the classic book To Kill a Mockingbird, recently passed away with an estate estimated to be worth many millions of dollars. Can you imagine what her annual royalty payments must have been from this iconic story?
Harper Lee valued her privacy and was known as one of the most reclusive celebrities in the country. If she desired to keep her personal life and finances private after her passing, she hopefully implemented a trust in her estate plan. A trust, as opposed to a will, is the best way to maintain privacy as the administration of a trust is performed privately with no court involvement. A will, on the other hand, is administered in a public court forum where anyone can review the court file to learn the contents of the will, the assets and debts of the estate, and the names of the beneficiaries. Whitney Houston passed away with a will and that’s why we hear so much about the exact details of her estate. Through smart planning, Harper Lee may remain as private after death as she was during life.