The world takes notice when people of wealth and fame have arguments over the assets of an estate. Negative publicity is generally not an issue for most family members who engage in will disputes. However, Florida legal advisors say court contests that create everlasting family divides are not necessary with proper estate planning.

A will or trust, as part of a larger estate plan, needs to include all assets of significant value to avoid a post-mortem free-for-all over the individual's belongings. Most legal documents concerning estate distribution list assets according to monetary value. Experts suggest adding directional clarity in estate plans for items with high emotional value as well.

Two lawsuits are simmering over the estate of the late actress Farrah Fawcett, the long-time companion of actor Ryan O'Neal. Although the couple never married and ended their intimate relationship well before Fawcett's death three years ago, O'Neal claimed they were good friends.

The actress's will left her art collection to the University of Texas; two silkscreen paintings gifted to Fawcett by Andy Warhol were assumed to be part of that collection. The university discovered that one of the paintings, reportedly worth as much as $30 million, was missing and sued Ryan O'Neal. O'Neal admits he has the painting, but contends Warhol gave it to him.

Ryan O'Neal apparently was not listed as a beneficiary in Fawcett's estate documents.

The actor is also suing a Hollywood producer for defamation. The producer worked with Fawcett during her cancer struggle and developed a contentious relationship with O'Neal. The producer admits sending an email to the University of Texas, accusing O'Neal of "theft" and "fraud" for taking the Warhol painting after the actress's death.

The court cases have not been resolved.

Legal experts are observing the Fawcett estate dispute and advising clients to examine asset values and estate plan documents. Avoiding a contested will or trust can be as simple as being explicit about after-death desires and descriptions for personal property.

Source: forbes.com, "Did Ryan O'Neal Steal Painting From Farah Fawcett's Estate?" Danielle and Andy Mayoras, Jan. 9, 2012