What Barbie Can Teach Us About Estate Planning

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Barbie Needs to do an Estate plan

In Latest Movie Barbie Faces Reality and Realizes the Importance of Planning for the Future

The Barbie movie is nominated for eight awards at the 96th Oscars. While a great movie, it also has some life lessons we can learn from. If Barbie can grow up and make it in the real world, so can we! After questioning her entire existence in the movie, Barbie dwells on mortality. Thinking towards the future, Babrbie will need to start her estate plan.

What would a Barbie estate plan look like?

  • Dreamhouse-Barbie’s fabulous dreamhouse would undoubtedly be one of her most significant assets. This luxurious mansion would need to be included in her estate plan.
  • Fashion Empire-Barbie’s extensive collection of clothing, accessories, and her fashion-related businesses would be considered valuable assets in her estate. They represent her successful fashion empire.
  • Car Collection-Barbie’s impressive fleet of cars, including convertibles, RVs, would be part of her estate’s tangible assets.
  • Investments-Barbie would likely have investments in stocks, bonds, real estate, and other financial instruments. She is the quintessential successful businesswoman so savvy financial planning is part of her portfolio.
  • Intellectual Property-Barbie’s name, likeness, and all her intellectual property rights would be carefully managed and accounted for in her estate plan.
  • Charitable Giving-Barbie’s philanthropic endeavors, if she has any, would be part of her estate plan. She would want to continue supporting causes close to her heart. She would even bequeath assets listed above to one of the causes she cares about, such as girls’ education, children’s well-being, or environmental conservation.
  • Trust Funds: Barbie may have set up trust funds for family members like her sisters: Skipper, Stacie and Chelsea, or friends like Midge and Kayla or charitable organizations. She will want to ensure her wealth benefits those she cares about even after her passing.
  • Digital Assets: In today’s world, even Barbie would have digital assets, such as social media accounts, online businesses, or virtual properties, which need to be managed or transferred according to her wishes.
  • Life Lessons and Values: While not tangible assets, Barbie’s estate plan could also include guidelines or instructions on how her legacy should be used to promote positive values, empower young girls, and encourage education.

Although it has been a fun exercise to imagine Barbie’s estate plan (the most pink and sparkly ever), the real importance of having a well-structured estate plan remains. Barbie is all about female education and empowerment, and she would definitely be an advocate for the empowerment of women through financial and estate planning.