If We Don't Learn Anything Else From Anna Nicole Smith...

Immediately after I finished my radio show (the Houston Business Show, Monday at 1 PM on CNN 650), I realized that I hadn't heard any news on Anna Nicole Smith. There really shouldn't be much more to be said about the poor girl since she has now been dead a couple of weeks, but big news she is and doesn't appear to be leaving the media radar screen any time soon.

The poor woman couldn't seem to live her life with much dignity and her death seems to be even more embarrassing. What is center piece in all of these legal disputes and battles is knowing what she wanted if she died. She seriously failed to provide much information in the most common means people use to do so, which is a will. It appears she had one, but it was very old and out of date. It no longer reflected her current situation (leaving everything to a son who passed away) and created more questions than answers.

As a result, Anna's body remains on ice as they determine her future. An unlimited number of court cases are involved and if there is an estate left, her baby (and the people who "win" her) may find themselves without a penny because of it being consumed in probate.

So, in the end, it is difficult to ascertain much value in terms of wisdom from the life of Anna Nicole Smith, in my opinion. Instead of learning from examples of what she did do, we have to garner some opposite information in what she didn't do. Her failure to keep an up to date will should teach us all the importance to keeping ours current.

A will prevents families speculating what you really wanted, how you wanted your resources spent, what future plans you have for your children, and what you desired for your company. A will has people working in unison to fulfill your life dreams and remaining a family after you pass away. A will keeps more of your resources with your family and not liberally given to the government in taxes and legal disputes.

On today's show I interviewed Shahara Wright of the Wright Law Firm, who is our Business Show Advisor on Business Law. She discussed the importance of a will, how easy it is to express your wishes to your loved ones, and the need to make sure it is current on a periodic basis. People seem to behave that a will is something merely done for oneself. The reality it is done for your loved ones and it plays a significant role in making sure they stay loved ones after you leave. Contact your attorney about your will. If you don't have one, I can confidently suggest Shahara. Doing such could help you avoid some of the tragedies that Anna Nicole has faced.