If you thought the life and times of former Playmate Anna Nicole Smith were turbulent, see what happens now that she's dead. The courts are still wrangling over the estimated half-billion dollar fortune, her husband, J. Howard Marshall II, left her when he died in 1995. That legal battle already has gone as far the U.S. Supreme Court and now has outlived both of its principals. You would have thought Anna Nicole would have learned the value of a solidly prepared, up- to-date estate plan. Unfortunately, like a lot of people, Anna Nicole didn't, and now that mistake could cost her loved ones millions of dollars. Had Anna Nicole taken the time to develop a solid estate plan her family could have avoided going through all the legal maneuvering they now face.

Take another example, singer James Brown still awaits burial even though he died on Christmas. Neither his partner, Tomi Rae Hynie ,nor their 5-year- old child is mentioned in his last will, written in 2000. Hynie had to go to court just to retrieve her personal belongings from Brown's house. She is expected to contest the Will and could end up inheriting only one- third of the estate.

Lawsuits are still coming at Marlon Brando's estate, 2 1/2 years after the actor's 2004 death. His former caregiver claims his estate's executors kicked her out of a house Brando gave her, and a former business manager is suing the estate as well.

Billy Graham's kids are fighting over where the evangelist should be buried when he dies -- near the family home or at the evangelical center he established.

You may not be a celebrity or have teams of lawyers and agents, but you can easily avoid making many of the same basic estate-planning mistakes that have cost other families significant amounts of hard earned money.

Not having a plan: Some people feel that based on the amount of assets they have they don't need an estate plan. This is a big mistake. In some cases, a simple Will is sufficient. A revocable trust, which is a legal entity created to hold and distribute your assets at your death, may not be needed. Dying without a Will means you will die "intestate." A probate court will then have to sort through all your debts and assets, and it can get quite expensive and time-consuming. The bottom line is even if you think you have nothing, you still need a will to make it easy -- and cheap -- for your heirs to settle your affairs.

Having an old plan: Having an outdated estate plan can be almost as bad as having no estate plan at all. Just look at the cases of Anna Nicole Smith and James Brown: Both died with Wills that were several years old. These estate plans were never updated even though there were new children born in the meantime. The result is a barrage of lawsuits in probate court.

Having the wrong plan: Sometimes an estate plan that includes only a Will is sufficient. However, many times including a revocable trust as part of your estate plan is a better solution. A revocable trust not only spares the expenses of probate court but it also can avoid a guardianship if you become incapacitated before your death. A revocable trust also means your estate is settled out of court and in private.

Having an incomplete plan: It's good to have a Will and a trust, but make sure to finish the job. One big mistake is creating a revocable trust, then forgetting to put all your assets into the revocable trust. For example, if you own property in another state and do not put it in your revocable trust, there may have to be a probate proceeding in that state at your death. A common mistake involves not putting out-of-state real estate in your revocable trust.

Having a Beneficiary Designation: Assets like life insurance policies, Individual Retirement Accounts (IRAs), 401(k) plans, etc. are paid to your beneficiaries pursuant to a beneficiary designation. These assets are not disposed of pursuant to the terms of your Will or revocable trust. Therefore, it is important to have a well drafted beneficiary designation that specifies where these assets will go and takes into account any estate tax planning done in your Will or revocable trust.

Thinking you don't need a detailed plan because your estate isn't taxable: Just because you don't hit the $2 million estate tax threshold doesn't mean you don't have other complicated estate issues. These range from guardianship for your children and other dependents, like an elderly relative, to how you want your assets distributed to your heirs at your death.

Failing to leave instructions: Where do you want to be buried? Who gets family heirlooms? Where's the key to the safe-deposit box? Leaving behind information helps your friends and family settle your affairs.

Thinking you can't afford to plan: Had Anna Nicole and James Brown properly planned they could have saved their families millions. The lesson that should be learned is that spending money on a good estate plan now, can save your family money down the road.