What Houdini's Will Got Wrong, and Yours Can Get Right

Houdini died on Halloween in 1926 and left a will of 23 articles that appears to have been drafted by his own hand. It still did not do what he wanted. In today's episode of Life's Third Act, Cordell & Cordell Senior Estate Planning Attorney John Sauter walks through the document and pulls out the planning lessons you can put to work in your own. 📺 What Houdini's Will Got Wrong, and Yours Can Get Right - Life's Third Act Episode 245 Welcome to another episode of Life's Third Act. We focus on the planning side of life, especially for celebrities. Houdini's will left everything to Bess, sent his magical apparatus to his brother Theo with orders to destroy it after Theo's death, and put the money in a trust that paid Bess one sixth and each of his siblings one fifth. It disinherited his former sister-in-law Sadie Weiss by name, and it conditioned Theo's income on his three sons being inducted into the Jewish faith. Then comes what did not work. The destruction order had no mechanism behind it and nobody with authority to enforce it, so the apparatus was sold and given away. A codicil was discovered months after the will had already been filed. And a New York Life policy paid Bess $50,000 entirely outside of probate. That is the part most people miss. The will is rarely the whole plan. We also get into the code Houdini is reported to have given Bess and the séance she held every year on the anniversary of his death. Chapters: 00:00 Houdini's life, fame, and his search for proof of an afterlife 13:04 The code he gave Bess, and the death that made it matter 18:08 Inside the will: 23 articles, and an order nobody could enforce 23:19 The trust, the New York Life policy, and money that skipped probate 27:30 Sadie Weiss, the faith condition, and a codicil discovered months later This video is for education only and is not legal advice. Every situation is different, so talk with a qualified attorney about your own plan. #EstatePlanning #HarryHoudini #LifesThirdAct