Investment News has an interesting article about Anna Nicole Smith’s will. It contains a few interesting details that I hadn’t heard in the multi-week all-channel news coverage surrounding her death.

This why you should update your will often:

Surprisingly, her will stated that she “intentionally omitted to provide for my spouse and other heirs, including future spouses and children.” That provision shocked many attorneys and advisers.

And also:

Ironically, her estate may not be worth much — probably as little as $100,000 and no more than $1 million, according to Horace Cooper, an assistant professor of law at George Mason University in Fairfax, Va. Ms. Smith filed for bankruptcy in 2000 and had borrowed money, based on the expectation that she would receive her inheritance from Mr. Marshall’s estate, Mr. Cooper noted.

“People were accepting promises [that she’d receive the inheritance] in exchange for giving her goods and services,” Mr. Cooper said. It is possible that Dannielynn will lose more of her mother’s estate to court costs, he said.

“This child will have to sue on her own behalf to get her mother’s estate,” Mr. Cooper said, adding that Dannielynn could end up in debt if she doesn’t win money from Mr. Marshall’s estate and if Ms. Smith’s attorneys continue to borrow money.

Investment News puts a great spin on it and turns it into a cautionary tale about advisors keeping on top of their client’s estate planning, even if the advisor doesn’t do the estate planning himself. But I just thought it was interesting.