The news surrounding the untimely death of actor Heath Ledger is sad, and contains a powerful reminder. When a child is born, update your will.
In the Ledger case, he had created a simple 3 page will in Australia before becoming famous...and before becoming a parent. The will left everything to his parents and siblings. News stories indicate that his family has given up the $20 million estate, which went to his 3 year old daughter.
The story continues to evolve though; nominated for an Oscar, the question becomes, what happens to the statue is he wins? Yahoo News has a nice story detailing the plan to have the Oscar held in a trust until his daughter reaches 18 and can legally sign a contract indicating that she won't sell it on the secondary market.
Sunday we'll find out if he wins, and a trust would be created. Enjoy the awards show.