Kobe Bryant’s death rocked the nation in early 2020 and devastated his family and his millions of supporters. Kobe did a lot more estate planning than many people his age but there were some mistakes and oversights that created additional stress for his family after his death. Here, we’ll discuss Kobe Bryant’s estate failings and the lessons we can all learn from his case.
What Happened in the Kobe Bryant Probate Proceeding?
According to a review of the public probate documents filed in California, Kobe Bryant’s Trust and amendments failed to include his youngest daughter who was born after the completion of his Trust Agreement and amendments. As the attorneys pointed out to the probate court, Kobe did amend the trust to add his next two daughters, Gigi and Bianka, but never amended it for Capri. This simple oversight by Kobe and his family led to otherwise unnecessary Court proceedings to modify the Trust to provide for his youngest daughter.
While this wasn’t the sole cause of the probate proceeding it does underscore the importance of reviewing and possibly updating wills and trusts when there is an addition (or death) in your family. Estate planning should remain fluid and fluctuate with changes in our families or unintended consequences can follow.
What Lessons can we Learn from the Kobe Bryant Probate Case?
From Kobe’s case we can learn that a failure to review and update your documents to reflect changes can lead to headaches and additional costs for your loved ones. If you have experienced a change in your family you should definitely contact a Florida estate planning attorney to discuss whether any changes are necessary in your estate planning documents.