Re this story hugely prolific music producer Sir George Martin “the 5th Beatle” exited this world at 90 with an estate worth approximately one million UK pounds. One million pounds is nothing to sneeze at but it’s at least one order of magnitude less than I would have expected for someone of his success, achievement and longevity.
Is there some backstory as to why it is so little?
Could it be he spent it all? When you’ve got it, flaunt it!
I have no idea, but a WAG: From what I’ve read, George was always the sort of guy who would put his “extra” money into creative endeavours, like AIR Studio, and such things often lose more money than they make.
Now I’ll at least read your link…
Thoughtful estate planning likely meant that there was very little in his probate estate.
One line in the article noted, “He specified that an amount small enough to avoid UK inheritance tax should shared between seven people, including his daughter Alexis - from his first marriage to Jean ‘Sheena’ Chisholm - and three of his grandchildren.”
In the U.S., gifts given during his life and amounts passed through certain types of trusts after his death would not be part of his estate. I don’t know how it works in the U.K., but I suspect there are similar ways to accomplish a small taxable probate estate. That might suggest that he had already given millions to his intended beneficiaries before he died.
He had a quoted net worth of $400 million:
http://www.inquisitr.com/2870670/george-martin-net-worththe-band-producer-and-the-fifth-beatles-dies-leaving-millions/
Perhaps he gave it away before he died.
That makes more sense.
Yeah, there are ways to do that in the UK. It’s something along the lines of you can give away parts of your estate, and if you live another seven years, there’s no inheritance tax liability. It’s not for unlimited
sums though. There’s also setting up trusts etc. Can’t say it’s something that has ever troubled my family, right enough.
More than you ever wanted to know about UK Inheritance Tax.
Wow - 40% on everything over 325,000 pounds is one hell of an incentive to do some estate planning…
This story gives a little more context to the inheritance scuffle.
Yep, that’s exactly the game.
You kind of have to envision a life lived well that ends with the penultimate stop before the tax man going something like this:
You: (holding out hand) “Here.”
Tax Man: (puts out palm)
You: (drop handful of change into his hand) “Have a nice day. St. Peter’s this way, right?”
Don’t forget to declare the pennies on your eyes.
Enough serious answers; spent on snorting blow off a hooker’s ass.
Of course, leave it to someone like him to do the necessary production work to make sure there was not a big pile just sitting idle at the end.
In his younger days maybe. But later on certainly at least off a countess’ or a Tory Cabinet member’s daughter’s. 
That was John Entwistle.
Seriously.
My will shall read “Being of sound mind and body, I spent every goddamned cent I had while I was alive!” :o
George Martin snorted blow off of John Entwhistle’s ass?
A YOUNG John Entwistle, I could see. But a 57-year-old John Entwistle?
I’m 55 now, and I wouldn’t snort coke off my own ass, even if I were still that limber.