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Will there be a fight over Gary Coleman’s estate?

June 6, 2010 By Leave a Comment

Gary Coleman died just over a week ago, on May 28, 2010.  And in that week, there have already been enough surprises to spark a whole series of “Whatcha talkin ’bout Willis!”’s.  First came the question of how Gary Coleman died at the age of 42.  According to the 911 tapes, Shannon Price (who called herself his wife) summoned emergency personnel when he fell and hit his head.  She was frantic over what to do with her “husband”. Sadly, he didn’t recover from the accident, despite being “conscious and lucid” the next morning, according to a Provo, Utah hospital spokesman.  He took a turn for the worse and was put on life support until Price decided to pull the plug, only two days after he hit his head. Coleman’s parents were bothered after they learned of his death from the media.  Of course, these parents weren’t exactly close with their son.  He had successfully sued them in 1989, claiming they had stolen much of his earnings as a childhood star of Diff’rent Strokes (among other shows), which had been held in trust for him. Despite their estrangement, Coleman’s parents wanted answers as to how he died.  They questioned how Price could have decided to pull the plug and terminate his life support. They were concerned when it was revealed that Price wasn’t actually Coleman’s wife.  They were married in 2007, after dating for five months.  But Coleman and the 22-year-old Price divorced in August, 2008.  In fact, they even appeared on an episode of Divorce Court together.  You can watch it on youtube — here are the highlights:   Divorce Court video . So how was Price legally able to end Coleman’s life if they were no longer married? Coleman had signed an important estate document that every adult needs — an advanced health care directive.  States use different names for legal documents like this, which record end-of-life wishes and appoint a decision-maker when the signer is no longer able to make his or her own decisions.  That document, according to the Utah hospital where Coleman died, gave Price the legal authority to end life support.  Price says she didn’t want Coleman to end up in a “Terri Schiavo” situation. In fact, even if they had been married, Price still would not have been able to legally terminate life support without a legal document like the advanced health care directive (unless she first obtained a court order). Price also made funeral arrangements for Coleman, to be held in Salt Lake City this weekend.  Those plans had to be put on hold though. Why?  Because Coleman’s parents went to court to stop the funeral because Price was no longer his wife.  While she had the power to end his life, her legal authority ended once he died, so she didn’t have the legal authority to plan his funeral. Instead, Coleman’s parents filed to open their son’s estate in probate court, saying he had no will.  Under intestate law (which applies when there is no will), they would stand to inherit his estate and to control it as executors — including the decision of when and how to bury his body.  They wanted to fly Coleman’s remains back to his boyhood home of Zion, Illinois for a funeral there. Coleman’s Utah-based attorney said Coleman had no will.  In fact, he had been trying to convince Coleman to sit down and sign a will for a long time.  Apparently, Coleman was planning to see the lawyer to create a will in a few weeks.  So there is no will, right? Not so fast.  Apparently, Coleman  did have a will.  He had an older one, from 1999 (before he moved to Utah where he later met Price).  Despite his failure to update the will after either his marriage or his divorce, the will would still be valid.  At least, that’s assuming there are no other wills that surface later. And what does it say?  Because it hasn’t been filed with the probate court yet, we don’t know (but it will be revealed soon because wills are public documents one they’re filed in probate court). So far, it’s only been reported that the estate executor is named Don Mial, a friend and former manager that Coleman reportedly trusted to handle his final wishes.  Because of this, his parents withdrew their filing, and the funeral plans are now up in the air. Whew!  It’s only been eight days.  What kind of dramatics will there be once the rest of the will — including who gets to inherit what — is revealed? And, what type of joint assets remain between Coleman and Price?  If he never updated his will after the divorce, maybe Price is still a joint owner of his bank accounts, home, or investments (which is common between many married people). In fact, reportedly, Coleman and Price were still living together and even planned to remarry, once Coleman’s earlier health problems improved.  So Coleman still could have provided for her, even without updating his will since 1999.  But, whatever plans he made or didn’t make could very likely lead to fighting in probate court, because his legal documents weren’t updated.  The terms of the divorce judgment may also come into play. Judging from the drama of the first week, this estate could turn out to be a wild one. And let this case be a good lesson for you and your loved ones.  No one is promised tomorrow.  Update your wills, trusts and other legal documents.  It’s especially important after life events like marriages and divorces. And if you don’t have an advanced health care directive, medical power of attorney, living will, or similar document, take care of it soon.  If Coleman hadn’t signed a document like that, then Price would have needed to go to court to terminate his life support.  His estranged parents would have received notice of the court hearing and had the right to fight the decision.  That could have been a very ugly fight, indeed. Every adult in this country who doesn’t have a valid document allowing someone to make medical, financial and end-of-life decisions in case of disability should see a good  estate planning lawyer and protect themselves and their families. Posted by: Andrew W. Mayoras and Danielle B. Mayoras, co-authors of  Trial and Heirs : Famous Fortune Fights! and co-founders of  The Center for Probate Litigation and  The Center for Elder Law in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law. Andrew and Danielle are husband and wife attorneys, professional speakers and consultants across the country.

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Will there be a fight over Gary Coleman’s estate?

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The crazy claims of the Michael Jackson Estate

April 19, 2010 By Leave a Comment

Given MJ’s eccentricities in life, and the craziness that has surrounded his estate since he died, it is no surprise that Michael Jackson’s estate executors are busy denying wild claims left and right.  TMZ has a list of the wackiest ones: Jose Freddie Vallejos asked for $3.3 million to reimburse Los Angeles for the costs of the King of Pop’s memorial service. A homeschooler, Claire McMillan, is seeking $2 million. Michael, according to Nona Paris Lola Ankhesenamun Jackson (try saying that three times fast), was actually married to her, so Nona of course wants custody of the three kids. Richard Lapointe claimed he’s owed $5 million for a memorabilia auction that was wrongly canceled. And, best of all, a woman is convinced that Jackson wiretapped her telephone and had organized criminals watch her.  She wants a mere $50 million. You can read TMZ’s coverage of these claims , which were all formally denied last week by Howard Weitzman, the estate’s attorney.  This means the claimants now have to initial legal action to try to prove that their claims are valid, if they still want to pursue their demands for dough. Oh — let’s not forget the claim of the secret love child.  What celebrity estate mess, with fortune-seekers coming out of the woodwork, would be complete without the claim of a secret child?  25-year-old Prince Michael Malachi Jet Jackson is asking for a DNA sample so he can prove he’s really Michael’s eldest son.  Hey, as wacky as MJ was in life–who knows–maybe some of these claimants are actually telling the truth.  Stayed tuned to find out! But, bad news for Prince Michael Mala(etc.).  Michael, Sr.’s will ( which you can read here ) states that he had no other children and he intentionally did not leave anything for any other heirs (except for this three legitimate children and his mother, who are beneficiaries of his trust).  This means that even if this secret child is telling the truth, he won’t inherit anything (at least, it would be very unlikely because of the language of the will). That’s one of the reasons why it is important to work with a good estate planning attorney.  You never know what kind of crazy people will surface when someone dies, with hands extended looking for money.  If Michael Jackson had properly funded his trust, then his entire estate could have been handled in private, outside of court.  This would have made it much tougher for these crazy creditors to try to stake a claim in probate court . Of course, without crazy creditors, it just wouldn’t have felt right, would it? By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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The crazy claims of the Michael Jackson Estate

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Will contest rages over estate of illustrator Tasha Tudor

April 6, 2010 By Leave a Comment

Tasha Tudor was a beloved children’s book illustrator and author who was considered by many to be a 19-century Martha Stewart.  She lived as if it was the 1800s, on a New England farm.  She even raised her four children for years without electricity or running water.  She illustrated such classics as The Wind in the Willows, The Night Before Christmas, and The Secret Garden. Tudor died at the age of 92 on June 18, 2008, eccentric to the end.  According to the New York Times, she claimed to be the reincarnation of a sea captain’s wife who lived in the early 19th Century and she strove to replicate that life.  Tudor said that, after she passed, she intended to return to the 1830s.  Her estate has been estimated to be worth more that two million dollars.  She left almost all of it to only one of her four children. The will was reportedly signed in 2001 and left everything to her son Seth, and his son Winslow, except for small bequests to the other three children and some of the grandchildren.  Tudor’s will says that she didn’t leave more to her other children because they were estranged. The attack on the will is led by her other son, Thomas Tudor, who says he was never estranged from his mother.  He and his two sisters claim that Seth exercised undue influence to convince their mother to sign that will.  They’ve also claimed that Seth isn’t properly administering the estate, challenging his decision to allow a public memorial service when the will called for no funeral or viewing. The judge appointed a special administrator to handle the estate’s taxes and help determine what the estate is really worth.  In doing so, he noted how he felt it was impossible for the family to ever agree. The Boston Globe has the full story on the case here . As attorneys who regularly handle and educate about estate and trust disputes like this one, we can say that these are always emotional and difficult for everyone involved.  It sounds like the Tudor family feud will be no exception.  That’s one of the reasons we wrote “ Trial & Heirs:  Famous Fortune Fights !”  We use celebrity tales like this one to help families from ending up the same way.  We also include chapters about what families should do if they’re already in a will contest or other family court fight. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial and Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys. As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand. Email them at  contact@trialandheirs.com .

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Will contest rages over estate of illustrator Tasha Tudor

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Michael Jackson Estate’s record deal raises questions

March 25, 2010 By Leave a Comment

The Probate Lawyer Blog featured this article about the Michael Jackson Estate several weeks ago, posing the question of whether it is ethical for estate executors to seek a 10% fee for certain business deals they reach for such a high-profile estate.  It’s especially problematic when you factor in that one of the executors was Michael Jackson’s attorney. Well, this attorney, John Branca, and his co-executor, John McClain (a music executive), just hit the mother-load.  It was widely reported yesterday that they brokered a deal worth up to $250 million dollars (that’s right — one quarter of a billion dollars!).   What was the deal for?  Sony announced a seven-year distribution agreement for unreleased music recorded by the late King of Pop (as well as related video footage).  Yes that means that Branca and McClain earned $12.5 million each for one deal. Why do we question this?  For several reasons, actually.  First, it’s the job of executors to bring in as much money as possible for an estate that has earning potential like this estate has.  They shouldn’t need a 10% incentive to do the job they’re required by law to do. Second, Branca, reportedly, is the attorney who prepared the will and trust that named him as the co-executor and co-trustee.  Because of these documents that he created, he just made $12.5 million — in addition to the other fees he’s already earned (and will continue to earn). Would it be ethical for an attorney to create a will for a client to sign that leaves $12.5 million to that attorney as a direct beneficiary?  In most cases, no, it wouldn’t.  So why is this attorney allowed to earn that much as an executor fee? Finally, there’s the issue which we discuss in our book, “ Trial & Heirs:  Famous Fortune Fights !”, that Michael Jackson’s Trust wasn’t funded properly.  If it had been, then his estate would have been kept out of court and handled in private.  It’s also entirely possible that his trust document (which hasn’t been released to the public) may have specified what compensation the trustees would have received.  IF that’s the case (just speculating here), then Branca and McClain wouldn’t necessarily have been able to receive this percentage fee.  But, because Jackson’s Trust wasn’t properly funded, thereby requiring it to pass through the probate court process, it opened the door to allow this type of fee to be approved by the judge (again, if the trust document addressed their compensation, which isn’t unusual).  And the judge did approve the executors’ 10% fee in this case. A properly-used estate plan would have bypassed court entirely.  Jackson’s estate plan didn’t do that.  The attorney who prepared that estate plan now just earned tens of millions of dollars because of that estate plan.  And it’s all legal.  But is it ethical? Some feel it is.  After all, Branca is a respected entertainment lawyer and McClain is an experienced music executive.  They have the expertise to broker deals like this.  And clearly, judging by the amount of money they’ve brought into the estate, they’re good at what they do.  And Michael Jackson’s heirs are benefiting from their expertise. If it’s standard to compensate entertainment industry experts with this type of fee, why shouldn’t Branca and McClain earn what may be considered fair compensation in that line of business?  There is some merit to this position.  After all, Michael’s mother, Katherine Jackson, spent months battling McClain and Branca in court over this estate (until she hired a new attorney, at which time she changed her position).  Yet she didn’t object to their 10% fee.  If a primary beneficiary of Michael’s estate didn’t object to this generous fee, why should anyone else? What do you think? Posted by:  Andrew W. Mayoras & Danielle B. Mayoras, co-authors of Trial & Heirs :  Famous Fortune Fights! and co-founders of  The Center for Probate Litigation and  The Center for Elder Law  in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  Andrew & Danielle are husband and wife attorneys, professional speakers and consultants across the country.

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Michael Jackson Estate’s record deal raises questions

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The Redd Foxx Estate mess

March 17, 2010 By Leave a Comment

There was an interesting article recently in AOL News about the Redd Foxx Estate.  The successful comedian and star of Sanford and Son (whose real name was John Elroy Sanford) died October 11, 1991.  Apparently, the Estate has no assets.  Even if it did, there’s an outstanding tax bill owed that’s a bit hefty — a whopping $3.6 million as of the day he died. But the court-appointed executor for the estate is trying to change all that.  John Cahill, who is a public administrator in Las Vegas (where the estate is pending) was put in charge in 2007.  The prior administrator was Debraca Foxx, Foxx’s daughter, who was removed from her position in 2006.  Apparently, she failed to comply with a court order to account for what she had done with royalties and other monies the estate brought in under her watch. In fact, Foxx’s widow (and fourth wife), Ka Ho Foxx, accused Debraca of stealing the money instead of paying down the tax debt. Since Cahill took over, he has aggressively pursued revenue for the estate and has brought in more than $100,000 since 2007, including royalty checks from Hallmark and CBS Studios for using Foxx’s image. But now, Cahill is trying to sell the rights to Foxx’s life story to bring in some real cash for the estate.  He says he’s received offers for various amounts, up to $2 million, for the story rights.  He’s recently “done lunch” with a Hollywood producer and TV star about the project. But, there are a few hurdles to clear.  The first is that, while the estate does own the right to profit from Foxx’s name, image and likeness, it’s far from clear that the estate has the same rights for a “life story”.  That’s why you see “unauthorized” biographies and documentaries about famous people all the time. But Cahill says his attorney feels otherwise and he is legally permitted to sell the story rights of behalf of the estate. The second problem is that Foxx’s widow plans to fight Cahill in court.  Apparently she and other Foxx heirs don’t want this to happen.  And why would they, with all the money due to the IRS anyway? You can read the AOL article here . We’ll have to see if Cahill’s efforts are successful.  Managing estates is never easy, especially when the first person in charge wasn’t forth coming with what was done with the money.  People often don’t stop to think about the headaches that can occur in probate court when someone dies. That’s why is always important for everyone to do the proper estate planning, including choosing someone who is trustworthy and dependable to handle the difficult job of trust or estate administration.  Even without a big tax bill or complicated issues like publicity rights to worry about, probate court is never a walk in the park. By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial & Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys.  As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand.   Email them at contact@trialandheirs.com .

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The Redd Foxx Estate mess

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LA Times article about estate planning

March 17, 2010 By Leave a Comment

The business section of Sunday’s Los Angeles Times featured an article called “Time to prepare your will”.  Discussing the importance of estate planning, the article included quotes from both of us.  Here’s a few selections from the article: If you’re rich, the best estate planning advice would be to die quickly. If you’re not, the best advice is to either review or rewrite your estate planning documents to make sure your heirs aren’t left high and dry if you die. FOR THE RECORD: The Personal Finance column about estate planning in Sunday’s Business section misidentified the book “Trial & Heirs: Famous Fortune Fights!” by Andrew W. Mayoras and Danielle B. Mayoras as “Trial & Errors: Famous Fortune Fights.” That’s because estate taxes that could allow Uncle Sam to nab up to 45% of your bequeathed assets are currently — and very temporarily — kaput. A decade-long phase-out of the estate tax eliminated the tax completely as of January. The catch: If nothing’s done, estate taxes will boomerang back to historic levels in 2011. That means any bequest of more than $1 million would be hit with a heavy levy on any amount above that limit after December. But estate planning isn’t just about taxes, and it’s not just for the rich. The legal vacuum that was created by the temporary elimination of the estate tax has created potential pitfalls even for people with modest estates. For example, if you were to die this year and had an old “by-pass” trust, the elimination of the estate tax could cause you to accidentally disinherit your spouse, said Clay Stevens, director of strategic planning for Aspiriant, a wealth management firm in Los Angeles. These trusts, aimed at reducing estate taxes, often have boilerplate provisions for bequeathing children an amount equivalent to the estate tax “exclusion.” This year, that exclusion is unlimited, so everything goes to your kids and unintentionally there would be nothing left for a spouse, he said. Then, too, as long as the estate tax is phased out, so is something called the “step-up” that reduced capital gains taxes on your appreciated assets after you died. You can still get that break if you make a few strategic fixes to your estate plan this year, Stevens said. But, if you do nothing, your heirs could face capital gains taxes on all but a pittance of your appreciated property. * * * What if you have no documents? Then get cracking. Studies indicate that the vast majority of Americans don’t have wills, trusts or powers of attorney. That can leave heirs in a rough spot, said Danielle Mayoras, coauthor with her husband, Andy, of “Trial & [Heirs]: Famous Fortune Fights.” Act now, avoid trouble later Ignoring your estate plan can land your children with ill-suited guardians or give them a pile of cash that they’re too young to handle, she said. If you become incapacitated before you die, it can mean that your care could be dictated by a stranger — or even an enemy. And, doing nothing can cause your heirs to bicker and battle in court — sometimes for decades. “People never think their family is going to end up fighting,” Andy Mayoras said. “But, especially in this economy, families are fighting over money more and more.” * * * Both Nass and the Mayorases wrote books about what celebrities have done wrong with estate planning. They say they did so to give parents and their children a way of bringing up the topic to explore how they could do it better. “It’s a way to get the dialogue started,” Andy Mayoras said. Danielle Mayoras adds that entertainer Ray Charles’ estate plan provides a blueprint of how to do it right. He got his 12 children and their nine respective mothers in a room to talk about what he was planning, which was to give most of his money to charity. But everyone was provided for in some way, she said. “The beauty of doing that is that everything is out in the open,” she said. “It gives the family some comfort and the ability to talk about it.” Here’s the link to the full LA Times article .  (It’s too bad they got the name of our book wrong, but at least they issued a correction.) By Andrew W. Mayoras and Danielle B. Mayoras, co-authors of “Trial & Heirs: Famous Fortune Fights!” and husband-and-wife legacy expert attorneys.  As educators across the United States through speaking engagements, print, broadcast, and social media, Danielle and Andrew consistently draw rave reviews and are in high demand.   Email them at contact@trialandheirs.com .

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LA Times article about estate planning

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The Elvis Presley Conspiracy (Part I): Is Elvis Alive?

February 23, 2010 By Leave a Comment

One of my favorite lines from the movie Men in Black was: Agent Jay (Will Smith):  You do know that Elvis is dead, right?   Agent Kay (Tommie Lee Jones):  No, Elvis is not dead.  He just went home. That line has been running through my mind an awful lot lately. It all began in the early days of the Probate Lawyer Blog, when I came across a Memphis newspaper story about a woman claiming that she was the secret half-sister of Elvis and that she had the DNA to prove it.  How did she get the DNA?  From Elvis, because he was alive.  She had sued to re-open the Estate of Vernon Presley (Elvis’ father) to prove that Vernon was her father. And, of course, in  my first article about the case, I didn’t take her very seriously.  Elvis is alive?  Yeah, right.  Like almost everyone who heard about it, I scoffed.  I snickered.  I went about my day. Fast forward a few months … I received an email from the alleged half-sister, Eliza Presley.  She directed me to a website that had a lot of information explaining her DNA evidence.  I emailed back and asked Eliza for a copy of the DNA reports, so I could see them for myself.  Eliza politely said she was unable to send them to me because of the ongoing court case. But, I had seen enough that I thought I may as well keep an open mind.  Hey, stranger things have happened, right?  Here’s my second article about the case, where I said I was rooting for Eliza.  I mean, how cool would it be if she was right, and Elvis really was alive? The feedback I received from that article was surprising.  Many people contacted me because of it.  Most of them were very supportive of Eliza and proclaimed that the truth would come out … and it would shock the world.  I also received a few anti-Eliza emails, as well as a couple of phone calls, from people who vehemently (and quite aggressively) swore that Eliza was a big fraud and destined to land in jail.  In the meantime, Eliza Presley contacted me again.  I’ve interviewed her by phone, at length, along with her forensic investigator that helped her track down evidence for her case, as well as her attorney.  Her lawsuit is indeed proceeding, although slower than they’d like it to for a number of reasons.  Getting the Estate of Vernon Presley reopened was the first step.  That alone was a big accomplishment, because no Presley Estate had ever been reopened, despite the number of people claiming to be related to Elvis.  And it now appears that the court case will be coming to a head in the near future. Throughout these interviews, I’ve found Eliza to be very open and honest with me.  And yes, she even agreed to share a copy of the DNA reports with me.   She said that she chose to share them with me because, as an independent attorney experienced in estate disputes, as well as being an author and blogger in this legal area, I could write about the reports in an objective fashion.  I agreed to do so, but only on the condition that whatever opinions I wrote about the reports would be my own, whether Eliza agreed with them or not.  Eliza was comfortable with that. And so, she sent me the DNA reports.  I have read and analyzed the DNA reports and other evidence she sent me, as well as a lot of other information about the great ”Elvis Conspiracy” that I found on-line. And, I have to say, the information has been nothing short of fascinating.  So, do I believe Eliza?  Do I really think that Elvis is alive?  Is he really her half-brother? To be continued . . . [This is the first of a three-part series covering the Eliza Presley case.] Posted by:  Author and probate attorney Andrew W. Mayoras, co-author of Trial & Heir s :  Famous Fortune Fights!  and co-founder and shareholder of  The Center for Probate Litigation and  The Center for Elder Law   in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  You can email him at awmayoras @ brmmlaw.com.

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The Elvis Presley Conspiracy (Part I): Is Elvis Alive?

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Dennis Hopper battling his wife; says she’s after his will

February 15, 2010 By Leave a Comment

Dennis Hopper was already fighting against advanced prostrate cancer.  Now the 73-year-old actor is turning up the heat in his battle against his wife, 41-year-old Victoria.  He filed for divorce in January, and according to published reports, the key factor is his will. Victoria is a 25% beneficiary under Hopper’s will.  But, in the case of divorce, the couple’s prenuptial agreement says that she gets nothing.  And that’s the sole motivating factor behind the divorce, according to Victoria.  She blames his three children from a prior marriage and says that Dennis is not making rational decisions, due in large part to the medication he’s taking. In other words, she says it’s all about the estate planning.  And it’s hard to argue with that point.  Dennis Hopper’s lawyer was in court last week, seeking a restraining order against Victoria to keep her away from him.  His attorney filed a doctor’s report saying that his estranged wife is hampering his recovery.  The doctor feels that the less he sees of her, the better. Why?  According to papers filed in the divorce proceeding, Dennis says that she’s after his will.  Dennis claims that in November, Victoria’s mother told him he should change the will and leave everything to Victoria, because he was going to die soon.  Dennis also says his wife and mother-in-law would wake him in the middle of the night and badger him about his will. So, yes, it seems the divorce is all about the estate planning. But who is the bad guy here?  Is it Victoria, a scheming gold-digger after his money?  Dennis says so.  He feels he gave her every luxury he could, which of course only made her want more. Or are Dennis’ children the bad actors?  Are they taking advantage of their father in a weakened state to cut his wife out, so they can get more? Or is it Dennis himself?  Victoria says he threatened to kill her, and she found a loaded handgun and shotgun in her bedroom, despite the fact they were living with their six-year-old daughter. According to Dennis Hopper’s doctor, he’s perfectly capable of making his own decisions and is in fine mental health.  It seems like the Judge agrees, because the divorce is going full-steam ahead.  Dennis got his restraining order a few days ago. So, it looks like Dennis and his children will get their wish, and Victoria will get cut out of the will.  Unless he succumbs to his battle with cancer first, that is. The really sad part of this saga isn’t that it’s happening to the Hopper family.  Rather, to me, the really tragic part is that this type of family drama is far too common.  Families often place aging or disabled seniors in the middle of a tug-of-war over money, especially in second marriage situations.  Do you think people stoop to this level only when millions of dollars are involved? No!  In this economy especially, I see families act just as ruthlessly over $100,000, or even less.  Too many people see sickness and death as a financial opportunity.  And that’s the real tragedy. There is some hope.  A well-crafted estate plan, from an experienced estate planning attorney , is a good start.  And a vigilant family who protects aging or dying loved ones from unsavory sorts is a must. The problem is that spotting the true gold-digger isn’t always easy.  Sometimes it’s a new spouse or girlfriend.  Sometimes, it’s the children from a prior marriage. Either way, anyone who thinks that this only happens in Hollywood–and that it can’t happen to their family–needs to think again. Posted by:  Author and probate attorney Andrew W. Mayoras, co-author of Trial & Heirs :  Famous Fortune Fights! and co-founder and shareholder of  The Center for Probate Litigation and  The Center for Elder Law   in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  You can email him at blog @ trialandheirs.com.

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Dennis Hopper battling his wife; says she’s after his will

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Forbes: Get Them Jamming On Estate Planning

February 12, 2010 By Leave a Comment

Danielle Mayoras, who co-authored Trial & Heirs:  Famous Fortune Fights! with me, recently wrote an article for Forbes.com to help financial advisers, attorneys, and other professionals get their clients talking about estate planning, using celebrity stories.  Most people don’t like to even discuss the legal planning for what happens after they die, much less actually do the planning.  That’s why celebrity stories can help break the ice and get the conversation started.  Here’s her Forbes.com article with specific tips on how: As professionals, one of the challenges that we have is motivating our clients to do their estate planning. You can educate clients about the proper estate planning and how it can help them, their families and their estate tax returns. The fact of the matter remains, however, that many clients will have excuses to push their legal planning to the back burner. Reasons that you may have heard include being too busy with kids, jobs or parents to take the time to do the planning. Others may be uncomfortable with the subject, have uncooperative spouses or simply have difficulty making decisions about who will be their trustees or beneficiaries. Whatever the reasons, procrastination is common when it comes to clients doing the proper estate planning, and this is one of the reasons that my husband, Andrew, and I wrote Trial & Heirs: Famous Fortune Fights! Celebrity stories can help you translate the often-challenging discussion about estate planning into a fun and entertaining conversation with your clients. Instead of clients examining their own lives, you can point to the stories ranging from Jimi Hendrix to Frank Sinatra and Princess Diana to help motivate them. Despite a reluctance to get down to planning, many clients do have serious concerns. What will happen once mom and dad pass away? Have they done their will or trust? Is it updated? Where is it? What professionals do they work with? Where are the documents located? Here are five important areas in which you can get your clients thinking and talking about estate planning, partly with the help of a celebrity anecdote: [Read the rest of the article on Forbes.com by clicking here] Posted by:  Author and probate attorney Andrew W. Mayoras, co-author of Trial & Heirs :  Famous Fortune Fights! and co-founder and shareholder of  The Center for Probate Litigation and  The Center for Elder Law   in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  You can email him at blog @ trialandheirs.com.

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Forbes: Get Them Jamming On Estate Planning

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The wars over the final wishes of Bill Davidson & Mel Simon

February 8, 2010 By Leave a Comment

William Davidson and Melvin Simon had a lot in common.  Both were billionaires and both were Jewish.  Simon built his fortune through the country’s biggest shopping mall company, Simon Property Group, and Forbes estimated his net worth at $1.3 billion.  Davidson led Guardian Industries Corp., one of the world’s largest glass suppliers, and had a fortune recently tabbed at $4.5 billion. They also each owned NBA franchises in the midwest.  Davidson owned the Detroit Pistons (yeah!), while Simon co-owned the rival Indiana Pacers (boo!) with his brother, Herbert Simon. Both men died last year, with Davidson passing away at age 86 in March and Simon passing in October, at age 82.  And both were survived by spouses as well as children from prior marriages. And, in both instances, the spouse and the children from the prior marriage did not see eye to eye.  Because of that, both the Davidson Estate and Simon Estate are mired in lawsuits about the true wishes of the beloved billionaires. In Davidson’s case, there are actually multiple lawsuits that have recently been filed.  An Israeli company and a Jewish charity started the legal actions claiming that Davidson (a renowned philanthropist who generously supported many charitable causes, especially Jewish and Israeli ones) had promised them sums totaling $20 million.  The problem was that Davidson’s revised will, signed only one week before he died, did not include money for these Jewish and Israeli causes. Karen Davidson, Bill’s wife, supports the company and charity, and she has actually joined in the request for funds, even though, as Bill’s wife and a primary beneficiary of her estate, Karen stands to lose millions if the money is taken from the estate to pay these claims. Opposing Karen and these claimants are the two co-executors of the Davidson estate, which includes the husband of Karen’s step-daughter.  The son-in-law pointed to a dispute amongst the beneficiaries as a reason for refusing to provide the money. Yet these $20 million disagreements pale in comparison to the family feud surrounding Mel Simon’s Estate.  He signed a new will and trust seven months before he died that drastically reduced the inheritance to his three children, to the benefit of his wife of 37 years, Bren Simon.  In fact, reportedly, Bren will receive one-half of the fortune, instead of one-third, with the children being cut out. Deborah Simon, Mel’s daughter, filed the lawsuit a few weeks ago.  She claimed that Mel was ill from pancreatic cancer, dementia and neurological disorders which impaired his understanding and his ability to sign the new documents.   In fact, she says, he wasn’t even able to hold the pen or the documents to sign his name, and someone else had to move his hand for him. Mel’s wife, Bren, counters that the documents were valid.  Mel fully understood and desired to make the changes, she says, to protect his wife from his children, and because he wanted to compensate her for loss in value of company stock.  Bren admits that Mel needed help signing the estate planning documents, because he suffered from symptoms of Parkinson’s disease. Mel’s wife, Bren, counters that the documents were valid.  Mel fully understood and desired to make the changes, she says, to protect his wife from his children, and because he wanted to compensate her for loss in value of company stock.  Bren admits that Mel needed help signing the estate planning documents, because he suffered from symptoms of Parkinson’s disease. As a probate litigation attorney who regularly handles will disputes and trust contests like these cases, I see these types of family fights affect people on a daily basis.  While millionaires and billionaires do seem to attract these legal battles more often (as covered in Trial & Heirs:  Famous Fortune Fights !), the reality is that they are also far more common than people realize, even for middle-class families. The exact same type of legal fights surface over estates worth hundreds of thousands, or even tens of thousands.  When a will or trust is changed and family members are cut out, or someone is convinced that a promise was made and not fulfilled, estate disputes are usually just around the corner. The best prevention remains a good estate plan with an experienced estate planning lawyer.  Despite this, two-thirds of adults in this country don’t even have wills. Don’t let this happen to your family!  Work with a good attorney and plan ahead.  And if you do suspect a loved one has been a victim of undue influence, or has been coerced to sign new documents when not mentally competent, learn your legal rights by working with an experienced probate litigation attorney. As the Davidson and Simon estate battles will demonstrate, these court proceedings are long, expensive and emotionally-draining for everyone involved. Posted by:  Author and probate attorney Andrew W. Mayoras, co-author of Trial & Heirs :  Famous Fortune Fights! and co-founder and shareholder of The Center for Probate Litigation and The Center for Elder Law in metro-Detroit, Michigan, which concentrate in probate litigation, estate planning, and elder law.  You can email him at awmayoras @ trialandheirs.com.

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The wars over the final wishes of Bill Davidson & Mel Simon

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