122: The Costly Truth of Ignoring Estate Planning Like Jay Leno

Absolute Trust Talk

You may have heard the recent news that Jay Leno filed a conservatorship over his wife, Mavis Leno’s estate. The couple does not have an estate plan, and his goal is to gain special permission from the court to set up a plan for both of them. As Kirsten and Madison point out, the main issue is not what happens if Mavis dies but instead if Jay were to die first. Given that Mavis is already incapacitated, who will manage their assets and decision-making? We hope you will join us for this discussion that underscores just how important it is to have an estate plan in place to avoid the costly and very public conservatorship court proceedings, among other protections.

Time-stamped Show Notes:

0:00 Introduction

0:53 To kick things off, Madison is shedding light on conservatorship and how it applies to the Jay Leno court proceedings.

1:57 Jay and his wife Mavis have been married for a long time and don’t have any children. He is her heir if she were to die first, so why is he worried about an estate plan now?

3:36 This isn’t the typical way to go about estate planning, and it certainly isn’t ideal. Listen in a Madison discusses some of the issues with the approach Jay Leno is taking.