In the latest episode of Life’s Third Act host, Joe Cordell dives into the life of one of America’s most thrilling novelists, Tom Clancy. A New York Times best-selling author of countless military and espionage thrillers, Clancy’s novels are known for their technical details and Cold War setting. Originally moonlighting as a writer while he worked as an insurance salesman, Clancy penned “The Hunt for Red October”. The book was expected to only sell 5,000 copies until it was hailed by then-President Ronald Reagan as “the best yarn” and went on to sell in the millions.
Clancy continued writing runaway hit novels such as “Patriot Games”, “Clear and Present Danger”, and “The Sum of All Fears”, selling over 100 million copies worldwide. Clancy went from a humble military enthusiast to amassing a multimillion-dollar empire with his stories inspiring numerous films, shows and even videogames.
Despite being a highly detailed and meticulous writer, Clancy had overlooked a flaw in the vague language of his estate planning that left his family with a hefty tax penalty to boot. Find out who wound up footing the bill for Clancy’s estate as well as what you can do to best protect your assets and descendants. All that and more in the latest installment of Life’s Third Act with Joe Cordell.
If you have any questions about estate planning or elder law, get in touch with an attorney at Tucker Allen.
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