2) Not Updating Wills –

Regular people do not give much thought to wills when compared to rich people. One cannot negate the fact that making a will, when one reaches a certain age, becomes mandatory. It is only for the financial and mental goodwill of near and dear ones. Having a will made is a tricky area and needs dexterity, especially if one is a high-profile celebrity. The late Heath Ledger might not have dreamt of writing his will but the inevitable did happen and his family was at the losing end. Still, hope lives on. A few controversial wills of famous celebs include - Ronald Perelman, Edward (Ted) Kennedy, Michael Jackson, Leona Helmsley, Princess Diana and Warren Burger. Their wills were in the limelight because most of them chose to leave their wealth behind to non-family members. Such acts do hurt one’s family but maybe not so much if one’s family is plain money-hungry. A demerit of having trust funds and charities in one’s will is the obvious mismanagement of wealth. This is something which people have to live with, though it shows another vice of human beings.