Shrinkage? Yep, Estate Shrinkage.

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

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 [email protected] to discuss your situation so that you don't experience the same sort of estate shrinkage problems.